These documents include a summary and term sheet for a Housing Bond Facility that the Treasury and the Federal Reserve System could establish to address COVID-19-related dislocations in the market for housing bonds. This facility could help HFAs while they are on the front lines of dealing with issues caused by the pandemic, including homeowner […]
Read More… from NCSHA Proposed Treasury-Federal Reserve Housing Bond Facility
This letter from NCSHA to Federal Housing Finance Agency Director Mark Calabria describes the urgent COVID-19-related liquidity needs of state housing finance agency (HFA) seller-servicers of Fannie Mae and Freddie Mac mortgage-backed securities and asks him to take immediate steps to help those HFAs to ensure they can continue to assist home buyers and homeowners […]
The U.S. Senate passed unanimously on March 25, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, after reaching agreement among Democratic, Republican, and White House negotiators. The House is expected to pass the bill on March 27. This memorandum summarizes the housing-specific provisions in the bill, including supplemental appropriations for HUD and other […]
Read More… from NCSHA Summary of Coronavirus Relief Legislation
On March 25, 2020, NCSHA sent this letter to Ginnie Mae urging it to help state housing finance agency (HFA) issuers of Ginnie Mae securities meet their pressing liquidity needs due to COVID‐19. The letter describes the servicing and liquidity concerns of HFA issuers and recommends Ginnie Mae provide relief to them. It also explains […]
Read More… from NCSHA Submits Letter to Ginnie Mae on COVID-19 Servicing Concerns
On March 23, 2020, NCSHA sent this letter calling on the Internal Revenue Service and U.S. Department of the Treasury to take immediate steps to ease Housing Credit deadlines and provide other needed program accommodations due to social distancing during the COVID-19 pandemic. View Document […]
On February 14, HUD posted a letter the General Deputy Assistant Secretary for Housing sent to Tribal Leaders. The letter, issued in accordance with HUD’s Government-to-Government Tribal Consultation Policy, requested feedback on regulatory changes HUD is considering proposing in forthcoming rulemaking to the usage of down payment assistance in conjunction with FHA-insured single-family mortgages. On […]
Read More… from NCSHA Submits Letter in Response to HUD Tribal Letter on DPA
The ACTION Campaign, which NCSHA co-chairs, released this statement calling on Congress to take immediate action to postpone certain Housing Credit deadlines to prevent developments from losing their tax credits due to the impact of COVID-19. The statement also urges Congress to establish a 4 percent minimum rate for bond-financed developments, as action by the […]
Brian D. Montgomery, HUD Assistant Secretary for Housing and Federal Housing Commissioner, gave a special address March 17, 2020, regarding COVID-19. “I’m reaching out at this extraordinary time, during the Coronavirus (COVID-19) outbreak, to ensure that FHA’s many stakeholders – including borrowers, lenders, property owners and agents, and business partners — understand the status of […]
Read More… from Message from Commissioner Montgomery Regarding COVID-19
In response to HUD’s 2020 proposed rule to revise its Affirmatively Furthering Fair Housing (AFFH) regulations, on March 16, NCSHA submitted this letter on behalf of the state housing finance agencies outlining specific steps the administration can take to uphold the Fair Housing Act and practical implementation of its AFFH obligation. View Letter […]
Read More… from NCSHA Comments on Affirmatively Furthering Fair Housing 2020 Proposed Rule
