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Federal Regulations & Notices

HUD Memorandum on Fair Housing Act Enforcement to Bar Sexual Orientation, Gender Identity Discrimination

On February 11, 2021, the U.S. Department of Housing and Urban Development's Office of Fair Housing and Equal Opportunity issued this memorandum stating that HUD interprets the Fair Housing Act to bar discrimination on the basis of sexual orientation and gender identity and directing HUD offices and recipients of HUD funds to enforce the act accordingly.

FHFA Extension of Foreclosure, REO Eviction Moratoriums and COVID-19 Forbearance Period

On February 9, 2021, the Federal Housing Finance Agency issued this press release announcing Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned evictions until March 31, 2021. The press release also announces that borrowers who have a mortgage backed by Fannie Mae or Freddie Mac and who are on a COVID-19 forbearance plan as of February 28 may be eligible for an additional forbearance extension of up to three months.

IRS Notice: Public Hearing on Housing Credit Average Income Test

This document is a notice of a public hearing scheduled for March 24, 2021, on proposed Housing Credit regulations for the average income test.Ā 

IRS Notice: 2021-10 Opportunity Zones COVID-19 Relief Extension

This notice extends the relief provided by IRS Notice 2020-39 and provides additional relief for Qualified Opportunity Funds and their investors in response to the COVID-19 pandemic. Notice 2021-10 specifically provides relief from the 180-day Opportunity Zone investment requirement, the 30-month substantial improvement period, the 90 percent investment standard, the 12-month reinvestment period for Opportunity Funds, and other program requirements.

IRS Notice 2021-12: Housing Credit Coronavirus Relief Guidance Extension and Expansion

This notice extends and expands temporary relief originally provided under previous Notice 2020-23 andĀ Notice 2020-53Ā from certain requirements under Section 42 of the Internal Revenue Code for Housing Credit properties in response to the ongoing COVID-19 pandemic.Ā Notice 2021-17Ā provides further clarification on the implementation of this Notice. The deadline extensions and waivers provided in this Notice have since expired; however, the IRS issued a subsequent Notice,Ā Notice 2022-05Ā providing further extension and expanding on the guidance in this Notice.

HUD: The National Standards for the Physical Inspection of Real Estate (NSPIRE) Proposed Rule

Published on January 13, the Economic Growth Regulatory Relief and Consumer Act: Implementation of National Standards for the Physical Inspection of Real Estate (NSPIRE) proposed rule would revise the way HUD-assisted housing is inspected and evaluated using the National Standards for the Physical Inspection of Real Estate (NSPIRE) model.

U.S. Department of the Treasury Emergency Rental Assistance Program Website

The Emergency Rental Assistance Program makes available billions to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The funds are provided directly to states, U.S. Territories, local governments, and Indian tribes. Grantees use the funds to provide assistance to eligible households through existing or newly created rental assistance programs. Access essential information on the official program website.

Section 542(c) Housing Finance Agency Risk-Sharing Program Final Rule

Published on December 22, 2020, this final rule amends the Section 542(c) Housing Finance Agency Risk-Sharing program regulations to better align with the policies of other U.S. Department of Housing and Urban Development (HUD) programs, reflect current industry and HUD practices, and conform to statutory amendments.

Multifamily Accelerated Processing (MAP) Guide

The Multifamily Accelerated Processing Guide, the "MAP Guide," is comprehensive instruction and requirements for the origination, underwriting and endorsement ("closing") of HUD-FHA insured mortgages for multifamily properties.