Federal Regulations & Notices

May 1 Update of HUD Multifamily COVID-19 Q&A

On May 1, HUD’s Office of Multifamily Housing released updated COVID-19 questions and answers covering issues related to project financing, forbearance, the CARES Act moratorium on evictions, additional resources provided by the CARES Act, income verification, and asset management.

Housing Trust Fund 2020 Formula Allocations

This document provides the amount of Housing Trust Fund dollars each state receives in FY 2020.

Proposed Federal Loan Programs to Stabilize the Housing and Rental Markets

These documents provide details on proposed Federal Reserve programs to stabilize homeowners, renters, apartment properties, and the housing market in response to broad forbearance provisions included in the CARES Act.

IRS Revenue Procedure 2018-58

IRS Revenue Procedure 2018-58 provides a list of time-sensitive actions, including several Housing Credit and tax-exempt bond deadlines, that may be extended for taxpayers affected by a federally declared disaster.

IRS Notice 2020-23: Taxpayer Relief for COVID-19

This Notice provides relief to taxpayers affected by the coronavirus pandemic. Among other things, the notice automatically extends several Housing Credit and tax-exempt bond deadlines referenced in IRS Revenue Procedure 2018-58. The notice also extends the 180-day deadline to invest capital gains in a Qualified Opportunity Fund to July 15 for taxpayers with a deadline between April 1 and July 15.

IRS Releases Guidance on Filing Amended Partnership Tax Returns

On April 8, the IRS released Revenue Procedure 2020-23, providing guidance on filing amended partnership tax returns to take advantage of the bonus depreciation changes in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as well as other tax incentives.

NCSHA Comments on OCC and FDIC Joint CRA Advanced Notice of Proposed Rulemaking

On April 8, NCSHA sent a letter to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) in response to their joint January 9 Advanced Notice of Proposed Rulemaking and Request for Comments on proposed amendments to Community Reinvestment Act regulations.

HUD COVID-19 Guidance Providing Waivers for CDBG CARES Act Supplemental Funding

This memorandum includes the CARES Act Flexibilities for CDBG Funds Used to Support Coronavirus Response Guide, which describes the waivers and alternative requirements HUD is providing for supplemental Community Development Block Grants (CDBG-CV) made available under the CARES Act and the extent to which these waivers apply to regularly appropriated CDBG funding.

CARES Act Mortgage Forbearance: What You Need to Know

This video, available on the CFPB website along with additional consumer-focused resources, outlines important details about mortgage forbearance, which can help consumers get back on their feet during short-term financial difficulty.