Resources
FHA Mortgagee Letter 2023-05: Reduction in Annual Single-Family Mortgage Insurance Premium
On February 22, 2023, the U.S. Department of Housing and Urban Development published Mortgagee Letter 2023-05 and announced the Federal Housing Administration will reduce its annual single-family mortgage insurance premium by 0.30 percentage points, from 0.85 to 0.55 percent for most new borrowers, effective for mortgages endorsed on or after March 20, 2023.
Public Finance Network Letter to Treasury and SEC on Financial Data Transparency Act
The Public Finance Network, of which NCSHA is a member, sent this February 21 letter to Treasury Secretary Yellen and Securities and Exchange Commission Chairman Gary Gensler to express concerns about the recently enacted Financial Data Transparency Act of 2022.
Joint Letter to HUD on Build America, Buy America Requirements
NCSHA and nine other organizations sent this January 13, 2023, letter to the Department of Housing and Urban Development regarding the implementation of the Build America, Buy America Act. The letter commended HUD for its work and made several recommendations.
Affordable Housing Credit Improvement Act of 2021 (S. 1136/H.R. 2573): Cosponsorship List by State
This document tracks the members of Congress who have cosponsored the Affordable Housing Credit Improvement Act of 2021 to amend the Internal Revenue Code of 1986 to reform the Low Income Housing Tax Credit.
Joint Letter to Treasury on Policies Related to Suspected Fraudulent Applications
NCSHA, along with other major national organizations representing Emergency Rental Assistance (ERA) grantees—the American Public Human Services Association, Council of State Community Development Agencies, National American Indian Housing Council, National Association of Counties, National Community Development Association, and National League of Cities—sent this December 20, 2022 letter to Treasury urging the Department to clarify its policies related to repayment in the case of suspect fraudulent application for assistance.
Novogradac LIHTC Working Group – NCSHA Comments on Average Income Test Temporary Regulations
NCSHA joined the Novogradac LIHTC Working Group on this December 12, 2022, comment letter to the Internal Revenue Service suggesting technical changes to the Average Income Test (AIT) temporary regulations related to reporting requirements for AIT compliance.
NCSHA Comment Letter on HUD Small Mortgage Lending RFI
On December 5, 2022, NCSHA submitted these comments to HUD in response to its Request for Information Regarding Small Mortgage Lending. NCSHA agreed with HUD's conclusion that a primary barrier to small balance mortgage loan lending is the cost to originate and service small mortgage loans in relation to the limited potential compensation afforded by them. NCSHA proposed three recommendations for HUD to consider during any rule-making process surrounding small mortgage lending.
NCSHA Comment Letter on EPA Greenhouse Gas Reduction Fund RFI
On December 5, 2022, NCSHA submitted this letter to the Environment Protection Agency (EPA) in response to its Request For Information on the Greenhouse Gas Reduction Fund (GHGRF). NCSHA urged the EPA to prioritize the use of GHGRF for affordable housing, where such assistance could significantly reduce greenhouse gas emissions and significantly improve the lives of the residents of affordable housing properties and the communities in which they are located.
Treasury Notice on ERA 2 Final Undrawn Funds Assessment
This notice, published December 2, 2022, by the Treasury Department, modifies prior guidance on ERA 2 reallocation to state Treasury will not conduct the optional Final Undrawn Funds Assessment described in the previous guidance until at least June 2023, if at all.
