Conference Materials

  • Consumer Financial Protection Bureau (CFPB) and outside experts answer your questions about complying with TILA-RESPA Integrated Disclosure (TRID), third-party vendor oversight, and other federal mortgage regulations. Examine strategies for managing the increasing compliance responsibilities that come with administering many of today's homeownership programs.

  • Hardest Hit Fund Meeting with Treasury

    Federal Regulations and Notices

    • For calendar year 2017, the amount used under § 42(h)(3)(C)(ii) to calculate the State housing credit ceiling for the low-income housing credit is the greater of (1) $2.35 multiplied by the State population, or (2) $2,710,000.

      For calendar year 2017, the amounts used under § 146(d) to calculate the State ceiling for the volume cap for private activity bonds is the greater of (1) $100 multiplied by the State population, or (2) $305,315,000.

    • The USDA Rural Development (RD) office on May 24 published an “Unnumbered Letter” allowing state RD offices to reallocate unused rental assistance (RA) within their states without approval from the national office, reversing a policy in place since 2013 requiring state offices to return unused RA to the national office to be recaptured.

      Fact Sheets and Policy Briefs

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        The National Council of State Housing Agencies (NCSHA) is a national nonprofit, nonpartisan organization created by the nation’s state Housing Finance Agencies (HFAs) to advance through advocacy and education their efforts to provide affordable housing to those who need it. NCSHA’s priorities, adopted annually by its Board of Directors after consultation with all state HFAs, set the agenda for NCSHA’s advocacy before Congress, the Administration, and the federal agencies concerned with housing, including HUD, USDA, and the Treasury, as well as its business activities.

      • The U.S. Department of Housing and Urban Development (HUD) today released its annual report to Congress on the financial condition of the Federal Housing Administration’s Mutual Mortgage Insurance (MMI) Fund. The independent actuarial analysis shows the MMI Fund’s capital ratio grew by $3.8 billion and now stands at 2.32 percent—the second consecutive year since 2008 that FHA’s reserve ratio exceeded the congressionally required 2 percent threshold.

        Legislation

        • On April 15, more than 120 members of the U.S. House of Representatives signed onto a letter last week urging House Speaker John Boehner (R-OH) and Minority Leader Nancy Pelosi (D-CA) to reject proposals that would eliminate or diminish the tax-exempt status of municipal bonds.

          The letter, written by Representatives Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD), was signed by 122 House members.

        • I would like to raise awareness of a critically important program that, although not within the jurisdiction of the Committee on Financial Services, is very often used to complement and strengthen a number of the affordable rental housing programs over which this Committee and Subcommittee does have jurisdiction. That program is the Low -Income Housing Tax Credit (“Housing Credit”), which is contained in Section 42 of the Internal Revenue Code of 1986 and, as you know, is under the jurisdiction of the Committee on Ways and Means, on which I am honored to serve. The Housing Credit embodies the concept that this Subcommittee is exploring today — it serves to increase private sector participation in affordable housing. Indeed, since its enactment as part of the Tax Reform Act of 1986, the Housing Credit has been the key financial tool utilized in virtually all affordable rental housing development and preservation. It is very often used in conjunction with the programs that I understand the Subcommittee is focused on today — properties which have Section 8 assistance and public housing, particularly public housing being developed under the new Rental Assistance Demonstration program. The Housing Credit has been tremendously successful precisely because of the private participation and the public/private partnerships that are at its heart.

          NCSHA Testimony, Comments, and Correspondence

          • While we strongly support the goals articulated in the SAFMR proposed rule, including expanding housing choice and access to high-opportunity neighborhoods for voucher holders, we are concerned that implementation of SAFMRs as envisioned in the proposed rule may have unintended consequences that could negatively impact some voucher holders, particularly those in high-cost metropolitan areas with low vacancy rates, and create problems for developments that rely on rental assistance from Project-Based Vouchers (PBV). We also are concerned that HUD may be underestimating the administrative burden public housing authorities (PHA), including state HFAs, will incur if required to implement SAFMRs.

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            NCSHA commended HUD for adopting many of the recommendations NCSHA made in our comments on the first iteration of the state assessment tool.

            NCSHA still believes the AFH process will remain unreasonably time- and cost-burdensome unless HUD makes further modifications to the tool.