Testimony, Comments, Correspondence
IRS Regulatory Relief Available During COVID-19 Pandemic (Updated)
This matrix compares the accommodations NCSHA requested in its March 23 letter to IRS to those allowed under existing IRS Revenue Procedures 2014-49 and 2014-50, which provide relief in instances of Presidentially-declared Major Disasters, and to recent IRS Notice 2020-23, which extends certain program deadlines until July 15, 2020.
Interview: State HFAs Remain Stable During the COVID-19 Crisis
The June 2020 edition of Down Payment Report included an interview with NCSHA Executive Director Stockton Williams in which he highlighted that state housing finance agencies have been accessing bond markets and mortgage backed securities to provide affordable homeownership financing for home buyers within their states; that state HFAs are doing as much or more business than they were at this time a year ago; and how state HFAs, through their down payment assistance programs, can play an even bigger role in closing the homeownership gap between people of color and white Americans.
NCSHA Summary of the Moving Forward Act (H.R. 2)
This summary describes the House Democratsโ new $1.5 trillion infrastructure bill, the Moving Forward Act, H.R. 2, which would provide funding for roads, bridges, schools, broadband access, and affordable housing. The bill would increase the amount of Housing Credit and Private Activity Bond authority provided to states annually, make a number of changes to the Housing Credit and Bond programs, establish a new state-administered single-family housing tax credit, and make a number of other changes summarized below.
HOME COVID-19 Funding Request Letter
On June 25, 2020, one hundred and eighty national, state, and local organizations, including NCSHA, sent this letter to House and Senate Transportation, Housing, and Urban Development Appropriations Subcommittee leadership requesting $14 billion for the HOME Investment Partnerships Program in the next COVID-19 relief package.ย
NCSHA Comments on FHFA’s FHLB Housing Goals Proposed Rule
NCSHA submitted this letter to the Federal Housing Finance Agency on January 31, 2019, to respond to its October 29, 2018, proposed rule to amend the affordable housing goals for the Federal Home Loan Banks.
Coalition Letter to HUD Secretary Regarding FHA Policy on Lender COVID-19 Forbearance Indemnification
On June 9, 2020, NCSHA and several other housing organizations, representing a broad cross-section of the housing and financial services industries, wrote HUD Secretary Carson to express their concern with the recently announced Federal Housing Administration (FHA) policy requiring lenders to provide 20 percent indemnification (of the original loan amount) for up to two years to borrowers in forbearance due to COVID-19-related hardship after closing and prior to FHA insuring their loans.
Why Congress Should Enact the Emergency Rental Assistance and Rental Market Stabilization Act
This document provides talking points HFAs and their partners can use to advocate for the enactment of the Emergency Rental Assistance and Rental Market Stabilization Act.
NCSHA Summary of House HEROES Act
NCSHA staff prepared the attached memorandum to summarize the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act under consideration in the House of Representatives. The bill would provide more than $3 trillion for coronavirus relief in programs across government agencies, including state and local assistance; additional individual payments; and significant funding for education, public health, and affordable housing; and make other housing-related changes.
NCSHA May 14 Letter to Ginnie Mae on Its Pass-Through Assistance Programs and Loan Delinquency Ratio Requirements
On behalf of its state Housing Finance Agency (HFA) members, NCSHA wrote Ginnie Mae this letter expressing appreciation for the steps it has taken to provide assistance to single-family and multifamily loan servicers affected by COVID-19, asking it to reconsider and amend key aspects of those programs, and urging it to issue guidance as soon as possible that would hold harmless state HFAs from the effects of Ginnie Maeโs delinquency ratio calculations during the COVID-19 pandemic.
