Federal Regulations & Notices
The IRS released the 2020 volume caps for Housing Credit and Private Activity Bonds (PABs).
Today, the Internal Revenue Service published Internal Revenue Bulletin 2019-44, which includes (under Part III) Rev. Proc. 2019-41, which provides the Housing Credit national pool amounts for qualified states for calendar year 2019.
The U.S. Department of the Treasury and Internal Revenue Service issued their 2019-2020 Priority Guidance Plan (PGP), which identifies guidance projects Treasury and IRS intend actively work on between July 1, 2019 and June 30, 2020.
This document contains the implementation report to the President in accordance with Executive Order “Establishing the White House Opportunity and Revitalization Council.”
On September 17, 2019, the IRS released guidance for additional Low Income Housing Credit disaster relief for the State of California.
On August 16, HUD released a proposed revision of its Disparate Impact Rule, which implements HUD’s interpretation of the Fair Housing Act’s Discriminatory Effects Standard, to better reflect the Supreme Court’s 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc (Texas DHCA v. ICP).
This is a letter from HUD Assistant Secretary fro Congressional and Intergovernmental Affairs Len Wolfson to Representative Peter Aguilar (D-CA) pertaining to the eligibility of individuals with Deferred Action for Childhood Arrivals (DACA) status to obtain mortgages insured by the Federal Housing Administration (FHA).
The following document is the complaint brought forth to the U.S. District Court of Utah by Cedar Band of Paiutes; Cedar Band Corporation; and CBC Mortgage Agency against the Department of Housing and Urban Development regarding the Federal Housing Administration's recent downpayment assistance guidance in Mortgagee Letter 2019-06.
On April 18, 2019, the Federal Housing Administration released Mortgagee Letter 2019-06, Downpayment Assistance and Operating in a Governmental Capacity, which clarifies documentation requirements that FHA-approved Mortgagees must satisfy when originating a mortgage for a Borrower using funds from another person or entity to satisfy a portion or all of the Minimum Required Investment, including specific documentation that adequately demonstrates the existing requirement that Governmental Entities are operating in their governmental capacity when providing downpayment assistance pursuant to the December 5, 2012, Interpretive Rule.