Federal Regulations & Notices
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.
On April 25, 2019, the Federal Housing Administration (FHA) provided an extension of the effective date of Mortgagee Letter 2019-06, Downpayment Assistance and Operating in a Governmental Capacity. The guidance provided in ML 2019-06 will be effective for case numbers assigned on or after July 23, 2019, rather than the originally published effective date of April 18, 2019.
The following document is the court ruling on Cedar Band of Paiutes; Cedar Band Corporatoin and CBC Mortgage Agency's case against FHA to file a temporary restraining order (TRO) on FHA's Mortgagee Letter 2019-16 guidance.
On January 4, Lamar Seats, Deputy Assistant Secretary, Office of Multifamily Housing Programs for the U.S. Department of Housing and Urban Development, published a memo regarding FHA Multifamily Lenders regarding the impacts of the government shutdown on Multifamily FHA mortgage insurance applications and other production activities.
The Treasury Department and Internal Revenue Service issued their 2018-2019 Priority Guidance Plan (PGP) which lists guidance projects on which they will focus during the 12-month period from July 1, 2018, to June 30, 2019. The PGP includes several guidance projects related to the Low Income Housing Tax Credit, tax-exempt Housing Bonds, and other HFA priority issues.
IRS Revenue Procedure 2018-10, which can be found in Internal Revenue Bulletin 2018-10, modifying 2018 cost-of-living adjustments for various programs, including the Low Income Housing Tax Credit (Housing Credit) and private activity bonds (PAB).