Treasury Department

Last week, the Department of the Treasury announced state and local governments distributed nearly $2.8 billion from the Emergency Rental Assistance program to more than 510,000 households in September, up from 459,000 households in August.

The Department of the Treasury published new guidance outlining the process for reallocating Emergency Rental Assistance funds.

High-stakes is an understatement. Appropriations for the federal government are set expire at 11:59 p.m. ET tomorrow, September 30. If a bill isn’t passed by both chambers and signed by the President before then, the federal government will shut down amidst a resurging global pandemic.  

The U.S. Treasury Department released new policy guidelines Aug. 25 aimed at speeding processing of Emergency Rental Assitance Program (ERAP) funds.

NCSHA sent the Internal Revenue Service and U.S. Department of the Treasury a letter urging them to extend certain temporary Housing Credit relief provisions in light of the COVID-19 pandemic’s continuing disruption of development and construction activities and the ongoing operation of Housing Credit properties.

Treasury Secretary Dr. Janet Yellen named Michael Hsu acting comptroller of the Currency under her authority to appoint deputy comptrollers and have the first deputy act as comptroller if there is a vacancy.

The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 […]

On March 16, the U.S. Department of Treasury updated its Frequently Asked Questions (FAQ) document regarding the administration of $25 billion in emergency rental assistance. The updated FAQs address questions regarding rental security deposits, hotel and motel stays, rent-to-own agreements and manufactured housing. Treasury is expected to release additional updates in the coming weeks.

Tia Boatman Patterson will serve as the associate director for Housing, Treasury and Commerce in the Office of Management and Budget (OMB). Boatman Patterson previously served at the California HFA Director.

The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million.

The U.S. Department of the Treasury released an updated frequently asked questions (FAQ) for the Emergency Rental Assistance (ERA) program established by the Consolidated Appropriations Act (CAA) of 2021 that incorporates many changes called for by affordable housing trade associations.

The Department of the Treasury released a list of state and local governments that will receive grants through the Emergency Rental Assistance (ERA) program. Each state received a minimum of $200 million and jurisdictions with populations greater than 200,000 were eligible to claim the money to distribute.