Federal Regulations & Notices
HOME Final Rule Implementing Changes to Commitment Requirement
This regulation finalizes without change an interim rule, published in 2016, that modified the method by which the Department of Housing and Urban Development determines participating jurisdictionsโ (PJs) compliance with the statutory 24-month commitment requirement for HOME Investment Partnerships program funds. Specifically, it uses a grant-specific method for determining compliance with the requirement and revised the method for administering program income to prevent PJs from losing allocated HOME funds when they expend program income.ย
Treasury Webinar on State and Local Fiscal Recovery Funds for Affordable Housing Production and Preservation
On August 11, 2022, the Treasury Department hosted a webinar on State and Local Fiscal Recovery Funds guidance for housing production and preservation. The guidance increases flexibility to use recovery funds to fully finance long-term affordable housing loans and expands presumptively eligible uses to further maximize the availability of recovery funds for affordable housing.
FHA and Ginnie Mae Request Input on Title I Manufactured Housing Programs
On July 27, 2022, FHA and Ginnie Mae jointly released a Request for Input (RFI) on their Title I Manufactured Housing Programs. Under Title I, FHA insures loans made by approved institutions for the purchase of manufactured homes and/or lots, and Ginnie Mae permits the securitization of such loans. The RFI seeks specific input on the current manufactured housing environment, the FHA Title I Manufactured Housing Program features, as well as Ginnie Maeโs Manufactured Housing Program. Responses are due September 26, 2022.
NCSHA Comments to the Department of Labor on Davis-Bacon Regulations
NCSHA submitted these comments to the Department of Laborโs Wage and Hour Division in response to its March 18 Notice of Proposed Rulemaking.
Fiscal Recovery Funds Final Rule: Frequently Asked Questions
This Treasury Department document provides answers to frequently asked questions about the Coronavirus State and Local Fiscal Recovery Funds (FRF). Of particular interest to housing stakeholders are sections 1.8 (use of funds by nonprofits); 2.14 (investments in affordable housing); 2.24 (eviction prevention and housing stability); 4.2 (infrastructure costs in affordable housing); 4.9 (use of FRF for loans, including more detail on cost of the loan and revolving loan funds); 6.15 (application of Davis-Bacon Act requirements), and 13.11 (treatment of program income).
Federal Banking Regulatorsโ May 5, 2022, Joint Notice of Proposed Rulemaking on the Community Reinvestment Act
On May 5, 2022, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking amending the agenciesโ Community Reinvestment Act (CRA) regulations. The proposal includes a new framework and updated metrics for measuring large banksโ CRA compliance and an expansion of banksโ CRA assessment areas to include areas where they do not have a physical location but are still active. It also seeks to define more clearly what community development activities are eligible for CRA credit, including what activities would count as supporting affordable housing.
Treasury Department Fact Sheet: State, Local, Tribal Government Investment of Fiscal Recovery Funds for Affordable Housing
This fact sheet provided by the Treasury Department presents examples of how state, local, and tribal governments are using Coronavirus State and Local Fiscal Recovery Fund resources for various affordable housing activities.ย
Freddie Mac Underserved Markets Plan for 2022โ24
On April 27, 2022, Freddie Mac published its approved Underserved Markets Plan for 2022โ24. The plan outlines how Freddie Mac intends to fulfill its obligations under the Federal Housing Finance Agencyโs Enterprise Duty-to-Serve Rule. The Duty-to-Serve Rule requires Freddie Mac and Fannie Mae to support lending for housing for very low-, low-, and moderate-income families (those earning 100 percent of area median income or below) in three underserved segments of the housing finance market: manufactured housing, affordable housing preservation, and rural areas.
Fannie Mae Underserved Markets Plan for 2022โ24
On April 27, 2022, Fannie Mae published its approved Underserved Markets Plan for 2022โ24. The plan outlines how Fannie Mae intends to fulfill its obligations under the Federal Housing Finance Agencyโs Enterprise Duty-to-Serve Rule. The Duty-to-Serve Rule requires Fannie Mae and Freddie Mac to support lending for housing for very low-, low-, and moderate-income families (those earning 100 percent of area median income or below) in three underserved segments of the housing finance market: manufactured housing, affordable housing preservation, and rural areas.
