Federal / Agency News

The memo points out that much has changed since CRA was enacted over forty years ago. Since that time, the rise of interstate banking, mortgage securitization advancements, and internet/mobile banking along with many other changes, have created a need for modernizing CRA.

Several new resources on the Rental Assistance Demonstration (RAD) for Moderate Rehabilitation (Mod Rehab) owners are posted to the HUD Exchange.

The limits determine eligibility for assisted housing programs including Public Housing, Sec. 8 project-based, Sec. 8 Housing Choice Voucher, Sec. 202, and Sec. 811.

A recent Notes from Novogradac blog post discusses the implementation of the income averaging election set-aside for low-income housing tax credit (LIHTC) properties created by the Consolidated Appropriations Act, 2018.

GAO makes five recommendations in the report, all of which HUD agreed with. The recommendations all relate to either improving leveraging metrics, monitoring enforcement of resident safeguards, and RAD compliance monitoring.

The awardees include 25 certified Community Development Financial Institutions and 15 non-profit housing organizations. They will collectively serve 40 states and the District of Columbia.

Opportunity Zones will provide a resource similar to the gap funding from the HOME program but “on steroids”, explains Carson.

Congressional leadership is anticipating a release of the omnibus language later today with potential for a House vote on Thursday.

The MAP Guide enumerates securities for an equity bridge loan as a pledge of tax credits and/or limited partners’ or investors members’ interests in the project’s ownership entity. Questions subsequently arose as to whether a pledge of the general partner’s interest could also secure an equity bridge loan.

The National Park Service report includes a summary of state-by-state activity in 2017 as well as a breakdown of project sizes.  

HUD recently rolled out System Release 2.2 and a revised assessment tool. These changes were based on user feedback and include missing flag notes.

Eight areas were revised due to new survey data.