Federal / Agency News

The Community Development Financial Institutions (CDFI) Fund announced the opening of the 2024-2025 New Markets Tax Credit (NMTC) application round, with notice of allocation availability expected to be published in Thursday’s Federal Register.

HUD is marking the 50th anniversary of the Housing Choice Voucher (HCV) program, established under the Housing and Community Development Act of 1974.

The Department of Housing and Urban Development (HUD) has proposed draft Mortgagee Letters adjusting underwriting standards for affordable multifamily housing loans.

The Federal Housing Finance Agency (FHFA) has raised the multifamily loan purchase caps for Fannie Mae and Freddie Mac to $146 billion in 2025, up from $142 billion in 2024. Workforce housing loans will continue to be exempt from the caps.

The Low Income Investment Fund (LIIF) is a Community Development Financial Institution (CDFI) that provides financing to support affordable housing, with a focus on serving low-income and underserved communities.

Affordable housing developers are under pressure to meet soaring demand for multifamily rental units amid rising interest rates and the escalating costs of construction.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a revised Community Development Financial Institution (CDFI) Certification Application FAQs document and recorded webinars.  

The Federal Housing Finance Agency‘s (FHFA) recent guidance on the Federal Home Loan Banks (FHLBanks) Affordable Housing Program (AHP), outlined in Advisory Bulletin 2024-05, introduces changes beneficial to developers of affordable multifamily rental projects.  

The recent changes to the HUD Rental Assistance Demonstration (RAD) program offer several potential benefits and implications for non-PHA (private owner) developers who wish to leverage the program for affordable housing initiatives.

Many banks offer predevelopment loans through their community lending programs, especially if the project qualifies for Community Reinvestment Act (CRA) credits.

In a major boost for affordable housing, the LIHTC per-capita multiplier has reached $3 per person for the first time, while the Private Activity Bond (PAB) per-capita multiplier is set at $130 per person for 2025.

NH&RA’s HOPE VI/Mixed-Finance Working Group, a council formed to find preservation solutions to a portfolio of severely distressed properties, submitted recommendations to HUD last week for criteria it should consider in determining whether a property is eligible for a Section 18 repositioning.