COVID-19
NCSHA Submits Letter to Ginnie Mae on COVID-19 Servicing Concerns
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 COVIDโ19. The letter describes the servicing and liquidity concerns of HFA issuers and recommends Ginnie Mae provide relief to them. It also explains that, while NCSHA supports industry-wide efforts to provide liquidity to servicers, the mission and structure of state HFAs demand a more targeted approach.
NCSHA Letter to IRS, Treasury on Emergency Housing Credit Program Measures Due to COVID-19 Pandemic
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 COVIED-19 pandemic.
ACTION Recommendations to Congress for Immediate Housing Credit Accommodations Related to COVID-19
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.ย The statement also urges Congress to establish a 4 percent minimum rate for bond-financed developments, as action by the Federal Reserve to reduce interest rates has driven the 4 percent credit rate to a historical low.
Message from Commissioner Montgomery Regarding COVID-19
A special March 17, 2020 address by Brian D. Montgomery, HUD Assistant Secretary for Housing and Federal Housing Commissioner, regarding COVID-19. "Iโm reaching out at this extraordinary time, during the Coronavirus (COVID-19) outbreak, to ensure that FHAโs many stakeholders โ including borrowers, lenders, property owners and agents, and business partners โ understand the status of our operations and our plans as health and economic events unfold. and evolve."
