The Affordable Housing Bond Enhancement Act
The Affordable Housing Bond Enhancement Act, introduced on June 6, 2023, by Senators Catherine Cortez Masto (D-NV) and Bill Cassidy (R-LA), enacts several of NCSHA’s long-standing priorities for strengthening the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. Notable changes include increasing the MRB home improvement loan limit, allowing MRBs to be used to fund refinancing loans, providing HFAs additional flexibility in how they utilize carryforward housing bond authority, and simplifying how a borrower’s MCC benefit is calculated.
