Federal Regulations & Notices
FHFA Strategic Plan for Enterprise Conservatorship for 2022โ26
The โFederal Housing Finance Agency (FHFA) published this Strategic Plan for Fiscal Years 2022โ2026 on April 14. The plan outlines FHFAโs priorities as the regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. The plan sets three main goals for FHFA during the applicable time period: securing the FHLBs and GSEsโ safety and soundness, responsibly stewarding FHFA's infrastructure, and fostering housing finance markets that promote equitable access to affordable and sustainable housing.
IRS Revenue Procedure 2022-21: New MRB and MCC Purchase Price Limits and Safe Harbors
On March 30, 2022, the Internal Revenue Service published Revenue Procedure 2022-21, which revises the nationwide average purchase price limits and the average area purchase price safe harbors for the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. The revenue procedure establishes the new MRB and MCC purchase price limits by taking the Federal Housing Administration single-family loan limits set in November 2021 and dividing them by 1.083. It also sets the national average purchase price at $368,500 for computing the housing cost/income ratio, which provides for an upward adjustment to the percentage limitation in high housing cost areas.
ERA 2 Reallocation Guidance
These documents provide information on reallocation of Emergency Rental Assistance funds authorized under the American Rescue Plan Act (ERA 2).
Treasury Draft Guidance on Homeowner Assistance Fund Annual and Quarterly Reporting
On March 30, the U.S. Department of the Treasury released draft guidance outlining the annual and quarterly reporting requirements for the Homeowner Assistance Fund (HAF). Treasury will be accepting public comments on the draft guidance until April 14, 2022.
Biden Administrationโs FY 2023 Budget Request
On March 28, 2022, the Biden Administration submitted to Congress the Presidentโs Budget for Fiscal Year 2023. The budget request totals $5.8 trillion and outlines the Biden Administrationโs fiscal priorities, including for HUD and USDA housing programs.
NCSHAโs Analysis of the Biden Administrationโs FY 2023 Budget Request
This resource is NCSHAโs analysis of the Biden Administrationโs Fiscal Year 2023 Budget Request. The $5.8 trillion budget outlines the Biden Administrationโs fiscal priorities, including for U.S. Department of Housing and Urban Development and U.S. Department of Agriculture housing programs.
IRS Notice 2022-12: 2022 Calendar Year Resident Population Figures
IRS Notice 2022-12 provides the resident population figures necessary to determine the 2022 private activity bond volume cap and the population-based component of the Low Income Housing Tax Credit.
IRS Revenue Procedure 2022-20: Guidance on Telephonic Public Hearings for Tax-Exempt Bonds, Housing Credit QAPs
On March 18, the Internal Revenue Service issued Revenue Procedure 2022-20 providing permanent authority to conduct telephonic public hearings for tax-exempt private activity bonds and Housing Credit...
Homeowner Assistance Fund: Interim Reports Webinar
State and Territory Participants that received Homeowner Assistance Fund (HAF) awards are required to submit a one-time Interim Report. In this Mar 1, 2022, webinar, a representative from the U.S. Department of the Treasury provides an overview of the steps needed to submit the report. Please refer to the Treasury's website for details, including theย guidance in full, as well as the Award Terms and Conditions, the authorizing statute, the Final Rule, and other regulatory and statutory requirements.
