Testimony, Comments, Correspondence
Bipartisan House Letter to Treasury: Protect Investments in Rural Housing
Twenty bipartisan members of the House of Representatives sent this November 3, 2023, letter to the U.S. Department of Treasury requesting an issuance of guidance clarifying that Fannie Mae and Freddie Mac are not considered tax-exempt controlled entities to preserve critical investments in rural housing.
NCSHA Recommended Practices in Housing Credit Administration
To strengthen Housing Credit administration and continue to merit and maintain congressional confidence in it, states have developed through NCSHA recommended practices in Housing Credit administration. These practices—created by states for states—not only help states meet their responsibilities but also preserve, to the maximum practical extent, the individual state flexibility that is at the heart of the Housing Credit program and its great success.
HOME Coalition Letter to Appropriators Seeking Funding for FY24
On October 2, 2023, the NCSHA-led HOME Coalition sent a letter to Appropriations Committee leaders in both chambers requesting robust funding for the HOME Investment Partnerships program as they wrap up appropriations legislation for Fiscal Year 2024. The letter requests no less than $1.5 billion for HOME, citing the critical need for this program due to many communities’ current housing supply challenges.
Qualified Contract Letter Sent to USDA
This October 25, 2023, letter, sent by NCSHA and other Housing Credit advocacy organizations to Secretary Vilsack, urges the Department of Agriculture to take actions to mitigate qualified contract early terminations of Housing Credit units that benefit from Section 538 multifamily housing loan guarantees.
NCSHA Letter to HUD on Early Termination of Qualified Contracts
This September 25, 2023, letter, sent by NCSHA and other Housing Credit advocacy organizations to Secretary Marcia L. Fudge, urges the U.S. Department of Housing and Urban Development (HUD) to take actions to mitigate qualified contract early terminations of Housing Credit units that benefit from HUD financing and Federal Housing Administration insurance.
184 Local Leaders Sign Onto Letter Supporting the Affordable Housing Credit Improvement Act
184 local government officials, representing cities, counties, and other municipalities of all sizes across the country, sent a letter to Congressional leadership supporting the Affordable Housing Credit Improvement Act (AHCIA) of 2023.
NCSHA Letter to HUD on Modernization of Engagement with Mortgagors in Default
On September 5, 2023, NCSHA responded to the U.S. Department of Housing and Urban Development’s proposed rule on Modernization of Engagement with Mortgagors in Default. NCSHA commended HUD's efforts to expand communication methods between mortgagees and defaulted homeowners, suggesting this expansion will improve loss mitigation efforts and home retention. Additionally, NCSHA encouraged HUD to define ‘reasonable effort’ and ‘verifiable attempt’ as broadly as possible. Upon implementation of the final rule, form HUD-2008-5-FHA Save Your Home: Tips to Avoid Foreclosure will be updated to include the expanded modes of communication.
Local Government Leaders’ Letter Supporting the Affordable Housing Credit Improvement Act
The ACTION Campaign, which NCSHA co-leads, is partnering with the National League of Cities, the National Association of Counties, and Mayors & CEOs for U.S. Housing Investment to circulate this letter in support of the Affordable Housing Credit Improvement Act of 2023 (AHCIA, S. 1557 | H.R. 3238).
NCSHA Letter to FHFA on Fannie, Freddie Single-Family Loan Pricing Framework
On August 14, 2023, NCSHA responded to the Federal Housing Finance Agency’s May 15 request for input on Fannie Mae and Freddie Mac’s framework for pricing single-family mortgages. The letter urged FHFA, when adjusting the pricing framework, to balance the need for the government-sponsored enterprises (GSEs) to maintain adequate capital with their public missions to support a liquid housing finance market, including for underserved markets. The letter also asked FHFA to continue to exempt loans originated through the GSEs’ HFA-specific products, as well as other loans for low- and moderate-income home buyers, from upfront mortgage fees.
