• October 10, 2013

    On behalf of the state Housing Finance Agencies (HFAs) it represents, the National Council of State Housing Agencies (NCSHA) appreciates the opportunity to respond to the Federal Housing Finance Agency’s (FHFA) August 9 request seeking input on what policies FHFA should implement to reduce the role of the Government-Sponsored Enterprises (GSEs)—Fannie Mae and Freddie Mac—in the multifamily lending market. As the GSEs are currently a critical source of capital for affordable multifamily developments, this issue is of paramount importance to HFAs as they seek to fulfill their affordable housing mission.

    NCSHA appreciates FHFA’s commitment to protecting taxpayers by seeking ways to limit the GSEs’ losses. However, we are concerned that further diminishing the GSEs’ multifamily lending capacity could substantially weaken the multifamily market, particularly for affordable housing. This would jeopardize one of the key elements of FHFA’s core mission: ensuring that the GSEs, “serve as a reliable source of liquidity and funding for housing finance and community investment.” We urge FHFA to reconsider its plans to shrink the GSEs’ multifamily lending market presence and instead consider ways the GSEs could be better utilized to support the development and rehabilitation of affordable housing.

  • October 07, 2013

    On October 3, HUD published in the Federal Register the final Fair Market Rents for the Housing
    Choice Voucher Program for FY 2014. The rents published in the notice are effective as of October 1, 2013.

  • September 18, 2013

    On September 16, HUD issued a letter announcing that FHA has exhausted the $25 billion of mortgage insurance commitment authority Congress appropriated for FHA’s multifamily, Risk-Sharing, and health care programs for Fiscal Year (FY) 2013.

  • September 04, 2013

    Last week, the United States Department of Agriculture (USDA) released a notice reminding interested parties that, beginning October 1, 2013, USDA will be utilizing data collected from the 2010 Census when administering rural housing programs, including the Section 502 Single-Family Housing Guaranteed Loan Program. Consequently, some communities that are currently classified as “rural” will no longer be considered as such and will no longer be eligible to benefit from USDA’s rural housing programs. USDA has posted maps online that show which areas will remain eligible.

  • July 26, 2013

    The August 2013 Housing Credit percentages are:
    7.55% for the 70% Present Value Credit
    3.24% for the 30% Present Value Credit

  • July 03, 2013

    On behalf of the state Housing Finance Agencies (HFAs) it represents, the National Council of State Housing Agencies (NCSHA) welcomes the opportunity to comment on the agencies’ June 7 proposed rule implementing the regulatory capital standards outlined by the Basel Committee on Banking Supervision (BCBS). NCSHA supports efforts to ensure that banks maintain strong capital buffers that will allow them to withstand a financial downturn and continue extending credit during tough economic times. However, we have strong concerns that the proposed risk weights for some residential mortgages are too stringent and will restrict low- and moderate-income Americans’ ability to secure affordable home loans.