Resources
NCSHA Comment Letter on FHFA’s Proposed Amendments to GSE Capital Standards
On May 12, 2023, NCSHA sent this letter to the Federal Housing Finance Agency (FHFA) in response to its proposed rule modifying several provisions of the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac. NCSHA expressed strong support for a provision of the proposed rule that would reduce by 40 percent the risk multiplier for multifamily mortgages backed by properties receiving government subsidies, including the Housing Credit. NCSHA urged FHFA to consider reducing the risk multiplier further and also to apply it to properties receiving funding through the HOME Investment Partnership program and from tax-exempt multifamily housing bonds. Additionally, the letter expressed support for FHFA’s proposals to reduce the risk weighting for commingled mortgage-backed securities that contain loans guaranteed by both Fannie Mae and Freddie Mac and to change how the firms determine a home buyer’s representative credit score for the purposes of the ERCF.
NCSHA Comment Letter on the Greenhouse Gas Reduction Fund Implementation Framework
NCSHA submitted these comments to the U.S. Environmental Protection Agency on its Greenhouse Gas Reduction Fund Implementation Framework.
NCSHA Comment Letter on NSPIRE
On April 27, 2023, NCSHA submitted these comments to the U.S. Department of Housing and Urban Development on the National Standards for the Physical Inspection of Real Estate (NSPIRE) and Associated Protocols, Proposed Scoring Notice.
ACTION Letter to Senate Banking Committee in Advance of April 2023 Hearing on Affordable Housing
On April 25, 2023, the ACTION Campaign, which NCSHA co-chairs, sent this letter to Senate Banking Committee Chair Sherrod Brown (D-OH) and Ranking Member Tim Scott (R-SC) in advance of the committee's April 26 hearing on affordable housing, proactively addressing previous criticism of the Housing Credit program.
NCSHA Comment Letter on 2023 Affirmatively Furthering Fair Housing Proposed Rule
On April 21, 2023, NCSHA submitted comments to the U.S. Department of Housing and Urban Development on the 2023 Affirmatively Furthering Fair Housing Proposed Rule.
Underserved Mortgage Markets Coalition Press Release on FHFA Proposed Fair Lending Oversight Rule
On April 19, 2023, NCSHA signed onto a press release by the Underserved Mortgage Markets Coalition (UMMC) regarding the Federal Housing Finance Agency’s proposed rule on Fair Lending Oversight. The press release expresses support for FHFA’s proposal to codify into federal regulations the requirement that Fannie Mae and Freddie Mac publish and maintain Equitable Housing Finance Plans.
IRS Revenue Procedure 2023-22: New MRB and MCC Purchase Price Limits and Safe Harbors
On April 19, 2023, the Internal Revenue Service published Revenue Procedure 2023-22, 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 released in December 2022 and dividing them by .883. It also sets the national average purchase price at $503,300 for computing the housing cost/income ratio, which determines which areas qualify as high-cost and are eligible for an increase in MRB/MCC income limits.
IRS Revenue Procedures 2023-32 and 2024-18 (National Pool)
Revenue Procedure 2022-37 (published within Internal Revenue Bulletin 2022-43) provides the Housing Credit National Pool amounts for qualified states for calendar year 2022. Twenty-seven states received unused Housing Credit carryovers from the National Pool.
NCSHA Comments to USDA on Single-Family Housing Guaranteed Loan Program Proposed Rule
NCSHA submitted comments on March 28, 2023, to the U.S. Department of Agriculture on a proposed rule for the Single-Family Housing Guaranteed Loan Program.
