NCSHA Comment Letter to FHFA on Proposed Duty to Serve Rule
On July 24, NCSHA sent the attached comments to the Federal Housing Finance Agency (FHFA) in response to FHFA’s proposed rule amending its Enterprise Duty to Serve Underserved Markets regulations. In the letter, NCSHA expressed strong support for FHFA’s proposal to allow the GSEs to receive credit under the Duty to Serve Rule for Housing Credit investments that support housing in all the underserved markets covered by the rule; currently, only Housing Credit investments for homes in eligible rural areas may receive credit. NCSHA also recommends that FHFA expand the Duty to Serve eligibility for GSE purchases and credit enhancements of tax-exempt Housing Bonds and urges the agency to make sure that any new requirements put in place continue to incentivize the GSEs to pursue activities in challenging sectors of the housing market.
