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NALHFA Applauds Eviction Moratorium for 2020; Urges Funding for Rental Assistance

Posted By Administration, Wednesday, September 2, 2020
[Washington, D.C.] – Today, the National Association of Local Housing Finance Agencies (NALHFA) issued the below statement regarding the announcement from the Centers for Disease Control (CDC) establishing a moratorium on evictions for the remainder of 2020:

“NALHFA has been urging the Administration to take bold action to protect renters from eviction as a result of hardship resulting from COVID-19 and we are pleased to see today’s CDC’s order,” said NALHFA Executive Director Jonathan Paine. “While this action was badly needed and a good step, NALHFA remains concerned with the current lack of rental assistance, which is widely agreed to be a critical policy to quicly and effectively assist America’s renters. NALHFA continues to call on Congress to provide immediate emergency rental assistance and increasing funding for federal housing programs.”

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FHA Extends Moratorium on Single-Family Properties

Posted By Administration, Wednesday, September 2, 2020
Yesterday, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least December 31, 2020. The decision is backed by the ongoing COVID pandemic. Only Fannie Mae and Freddie Mac-backed single-family mortgages are covered under this extension. The current moratoriums were set to expire on August 1, 2020.

Separately, the Department of Housing and Urban Development (HUD) announced yesterday that FHA is extending its foreclosure and eviction moratorium through Dec. 31, 2020. This extension applies to home owners with FHA-insured single-family mortgages, such as Title II Single Family forward and Home Equity Conversion (reverse) mortgages.

 

To read the full communication from NALHFA, please click here.

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Take Action Now: Urge the Senate to Support Housing Priorities in Relief Legislation

Posted By Administration, Wednesday, September 2, 2020
While discussions on a “Phase 4” economic relief bill continue this week, now is the time to weigh in with elected officials on crucial affordable housing priorities. NALHFA has been lobbying Congress over the past several weeks, and the grassroots campaign below will ensure you can weigh in with your elected officials directly.

Previously, the House of Representatives passed a relief bill that addressed several NALHFA-supported priorities, including the enactment of a permanent minimum 4 percent Low-Income Housing Tax Credit (Housing Credit) rate, lowering the “50 percent test” for bond-financing to 25 percent, and providing several basis boosts, among others.

As the Senate works on a bill this week, NALHFA is reemphasizing our industry letter detailing the crucial industry priorities needed from Congress.

 

To read the full communication from NALHFA, please click here.

 

 

 

 

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HUD Announces Resumption of REAC Inspections

Posted By Administration, Wednesday, September 2, 2020
Today, the Department of Housing and Urban Development (HUD) announced that they will resume Real Estate Assessment Center (REAC) inspections of HUD multifamily and public housing properties and units under strict safety protocols during the national recovery from the COVID-19 pandemic. REAC inspections were paused due to the Coronavirus outbreak in March of 2020.

According to the release issued by HUD, REAC will prioritize inspections in states and localities based on the latest COVID-19 data from Johns Hopkins University and health risk scoring methodology from the Harvard Global Health Institute.

 

To read the full communication, please click here.

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Take Action Now: Urge the Senate to Support Housing Priorities in Relief Legislation

Posted By Administration, Wednesday, September 2, 2020
The U.S. Senate has returned to Washington and is working to craft their version of a “Phase 4” COVID relief bill and NALHFA is working to ensure crucial affordable housing priorities are included. Previously, the House of Representatives passed a relief bill that addressed several NALHFA-supported priorities, including the enactment of a permanent minimum 4 percent Low-Income Housing Tax Credit (Housing Credit) rate, lowering the “50 percent test” for bond-financing to 25 percent, and providing several basis boosts, among others.

 

To view the full communication from NALHFA, please click here.                                     



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NALHFA Welcomes Lakeview Loan Servicing, LLC

Posted By Administration, Wednesday, September 2, 2020
WASHINGTON, DC – The National Association of Local Housing Finance Agencies (NALHFA) announced today that Lakeview Loan Servicing, LLC is its newest member.
 
NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.
 
Lakeview Loan Servicing, LLC is proud to expand access to homeownership for low-to moderate-income borrowers and first-time homeowners through their partnership with numerous local HFAs. Since 2016, Lakeview has placed over 92,000 HFA borrowers into homes.

 

To read the full release, please click here.

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Take Action Now: Urge Congress to Support Housing Priorities in Relief Legislation

Posted By Administration, Wednesday, September 2, 2020
This week, the House of Representatives is set to vote on H.R. 2, the Moving Forward Act, which will address comprehensive infrastructure and broad relief measures for the U.S. economy in the wake of COVID-19. This legislation, will address several NALHFA-supported affordable housing priorities, including the enactment of a permanent minimum 4 percent Low-Income Housing Tax Credit (Housing Credit) rate, lowering the “50 percent test” for bond-financing to 25 percent, and providing several basis boosts. In addition, it would also extend the deadline of several programs. This legislation is being considered, in part, due to the economic effects of the COVID pandemic and additional legislation is likely to appear before the fall.

As the House considers this bill this week and with the Senate expected to consider their own bill in late July, NALHFA sent an industry letter to House and Senate leadership detailing the crucial industry priorities needed from Congress. To read a copy of that letter, click  here.

In addition, NALHFA has created a grassroots campaign for members to contact their elected officials on these important priorities. Click the link below to urge your officials to support critical affordable housing priorities in any legislation being considered to stimulate the economy. 


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Wyden, Cantwell Introduce Housing Bill that Includes LIHTC Expansion, Minimum 4 Percent Rate, Expansion of 30 Percent Basis Boost

Posted By Administration, Monday, June 29, 2020

On Friday, U.S. Senators Ron Wyden (D-OR) and Maria Cantwell (D-WA) introduced legislation containing a series of important affordable housing priorities, which are also contained in H.R. 2, the Moving Forward Act, being considered by the House this week. This legislation would expand the 9 percent low-income housing tax credit (LIHTC), set a permanent minimum 4 percent LIHTC rate and expand the use of the 30 percent basis boost for affordable housing properties. 

A detailed summary of the bill is available by clicking here. As mentioned, this legislation contains the same affordable housing provisions included in the Moving Forward Act introduced last week in the House. The House is expected to pass the Moving Forward Act in the coming days. NALHFA sent a letter to the House and Senate detailing important industry priorities as Congress continues to consider COVID-19 relief measures.

 

To read the full statement from NALHFA, please click here.

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House Unveils Comprehensive Infrastructure Bill; Contains Important Housing Provisions

Posted By Administration, Thursday, June 25, 2020
This week, House Democrats released a comprehensive infrastructure proposal known as the Moving Forward Act (H.R. 2). A section-by-section summary and the full bill text can be accessed by clicking the hyperlinks. The $1.5 trillion package contains several important provisions for the industry, including several pertaining to affordable housing. NALHFA has been reviewing the proposed legislation and is pleased to see the inclusion of several industry-supported provisions on affordable housing.
 
Below are several key provisions:
 
  • Increases the Low-Income Housing Tax Credit (LIHTC) by over 60% over current levels;
  • Sets a permanent minimum 4% LIHTC rate;
  • Lowers the test threshold for Housing Bond-financed properties from 50% to 25%;
  • Allocates $5 billion for the HOME Program;
  • Creates a new tax credit, the Neighborhood Investment Tax Credit, that will incentivize the rehabilitation of residential buildings and new construction in distressed areas;
  • Allocates $10 billion for Community Development Block Grants (CDBG);
  • Allocates $70 billion for the Public Housing Capital Fund;
  • Increases the ceiling for PAB volume caps for each state from $105 per capita to $135. It also increases the small-state minimum from $321,775,000 to $402,220,000.

 

To view the full communication, please click here.

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Final Rule on CRA Reform Released

Posted By Administration, Wednesday, May 20, 2020
Today, the Office of the Comptroller of the Currency (OCC) released a final rule that makes significant changes to its proposed overhaul of the Community Reinvestment Act. NALHFA previously submitted written comments during the proposed rule stage.
 
While NALHFA is still reviewing the text of the final rule, initial examinations of the rule show that it will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, more responsible lending, and greater access to banking services.

 

To view the complete alert, please click here.

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NALHFA 2021 Annual Conference

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NALHFA 2022 Annual Conference

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