Federal / Agency News

congress-capitol

House Passes FY-2016 THUD Funding Bill

The House passed the FY-2016 Transportation-HUD spending bill on a vote of 216-210. The legislation includes funding for the Department of Housing and Urban Development, Department of Transportation, and other related agencies through the end of the fiscal year on September 30, 2016.

NH&RA News

White House Appoints Treasury Official to Coordinate Housing Policy

The White House selected Michael Stegman, a senior official in the U.S. Department of the Treasury, to be the main housing adviser on the National Economic Council.

General News

Updated Report Highlights Historic Tax Credit Financing, Regulatory Changes

The U.S. Department of the Treasury Office of the Comptroller of the Currency (OCC) released an updated edition of its 2008 Community Developments Insights report entitled Historic Tax Credits: Bringing New Life to Older Communities. This Insights report provides an overview of Historic Rehabilitation Tax Credits, why they might be of interest to other banks, and associated risks or regulatory considerations.

HUD

HUD Announces New Director for Office of Recapitalization for Multifamily Housing Programs

Deputy Assistant Secretary Ben Metcalf announced Thomas R. Davis as the new Director of the Office of Recapitalization within the Office of Multifamily Housing Programs at HUD.

HUD

HUD Proposes Using Small Area FMRs for Housing Choice Voucher Program

The U.S. Department of Housing and Urban Development (HUD) is opening a public comment period on a proposed a rule that would use small area fair market rents (FMRs) in the Housing Choice Voucher Program instead of the current 50th percentile fair market rents. The public comment period ends July 2, 2015.

NH&RA News

CDFI Fund NMTC Investments Total $40B Through 2013

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2013. Through the first 11 application rounds of the NMTC Program, the CDFI Fund has made 836 awards, allocating a total of $40 billion in tax credit authority to CDEs through a competitive application process.

HUD

HUD Report Examines Impact of QAPs on LIHTC Development Siting

Increased competition for low income housing tax credits (LIHTC) is expanding the role qualified allocation plans (QAPs) plays in determining where developments are built, according to a new report from the U.S. Department of Housing and Urban Development.

congress-capitol

House Finance Subcommittee Holds Hearing on Rural Housing Service

The House Commmittee on Financial Services’ Housing and Insurance Subcommittee held an oversight hearing May 19 to examine the performance, challenges and budget priorities of the Rural Housing Service (RHS).

HUD

HUD Begins Releasing Monthly Updates on RAD CHAPs

The U.S. Department of Housing and Urban Development (HUD) will now release monthly updates on all active and closed Commitments to enter into a Housing Assistance Payment (CHAPs).

HUD

HUD Revamps RAD Resource Desk Interface for 1st Component Transactions

The U.S Department of Housing & Urban Development (HUD) announced changes to the Rental Assistance Demonstration (RAD) program Resource Desk for 1st component awardees. These changes seek to better allow for the exchange of transaction documents and communications.

Federal Housing Finance Agency

FHFA Revises Exclusions to Fannie Mae and Freddie Mac Multifamily Lending Scorecard Caps

The Federal Housing Finance Agency (FHFA) announced that it is revising the affordable housing lending categories that are excluded from the multifamily lending purchase caps established in the 2015 Scorecard for Fannie Mae and Freddie Mac.

congress-capitol

Senators Introduce Bill to Establish Minimum LIHTC Rates

Senators introduced a bill on May 5 to create a permanent floor for the low income housing tax credit. The bill is identical to the one introduced to the House in late February.

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