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Legislative Alert: NALHFA Seeks Member Input on FHA Insurance Rules for Down Payment Assistance

Posted By Administration, Tuesday, July 17, 2018
The U.S. Department of Housing and Urban Development (HUD) plans to issue an advanced notice of proposed rulemaking in September. Through this notice, HUD will be seeking comments on potential changes to the Federal Housing Administration (FHA) insurance rules for down payment assistance (DPA) programs. HUD is looking for comments specifically from local housing finance agencies, entities acting in a governmental capacity, and nonprofit organizations on the use of DPA and secondary financing.
HUD’s FHA plays a central role in providing underserved households with affordable housing financing. The FHA mortgage insurance program insures lenders against mortgage default for single and multifamily housing for low- and moderate-income families. Unlike private originators, local HFAs are government entities, meaning they automatically qualify for FHA-insured loans to use in conjunction with their DPA programs. This means HFAs are able to help creditworthy individuals with a down payment they might not otherwise be able to obtain.
NALHFA will be submitting comments and will take this opportunity to highlight the importance of local HFA DPA programs to help low- and moderate-income families afford a home. NALHFA is committed to preserving the ability of HFAs to provide DPA and other secondary financing on a preferred basis with FHA single-family loans. 
NALHFA is currently seeking member input to include in its prepared comments. Please send any contributions by August 16 to NALHFA Policy Director, Heather Voorman at
NALHFA’s government relations team will continue to monitor this topic and will provide more information about the notice of proposed rulemaking as it becomes available.

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