Disaster Response

Congress Extends PPP Through Aug. 8

Filed in Capitol Hill, Disaster Response by on July 2, 2020 0 Comments
Congress Extends PPP Through Aug. 8

The House Wednesday night unanimously approved an extension of the Paycheck Protection Program (PPP) through Aug. 8. The Senate voted Tuesday to extend the program, just hours before it expired at midnight.

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IRS Provides Temporary Relief for LIHTC

Filed in Disaster Response, Multifamily by on July 1, 2020 0 Comments
IRS Provides Temporary Relief for LIHTC

In a victory for NAHB and its members, the Internal Revenue Service today announced temporary relief from certain requirements under Section 42 of the Internal Revenue Code for Low-Income Housing Tax Credit (LIHTC) projects. In light of financing and construction delays and other challenges resulting from COVID-19, NAHB requested in April that the IRS extend all relevant LIHTC deadlines. 

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NAHB and Michigan Builders File Suit to Expand PPP Eligibility

Filed in Construction Industry, Disaster Response, Legal by on June 30, 2020 0 Comments
NAHB and Michigan Builders File Suit to Expand PPP Eligibility

With so many builders unfairly unable to obtain a forgivable loan under the Paycheck Protection Program (PPP), NAHB, along with the HBA of Michigan and HBA of Southeastern Michigan, today filed a lawsuit against the U.S. Department of Treasury and the U.S. Small Business Administration, challenging their decision to apply onerous regulations onto PPP that prevent certain builders and developers from accessing this much-needed source of funding and having those loans forgiven.

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Fannie Mae and Freddie Mac Extend Forbearance for Multifamily Property Owners

Filed in Disaster Response, Housing Finance, Multifamily by on June 29, 2020 0 Comments
Fannie Mae and Freddie Mac Extend Forbearance for Multifamily Property Owners

The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac (the Enterprises) are allowing servicers to extend forbearance agreements for multifamily property owners with existing forbearance agreements for up to three months, for a total forbearance of up to six months.

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NAHB Leaders Call on Treasury Secretary to Expand PPP Eligibility for Builders

NAHB Leaders Call on Treasury Secretary to Expand PPP Eligibility for Builders

NAHB Chairman Chuck Fowke and CEO Jerry Howard held a virtual discussion with Treasury Secretary Steve Mnuchin today and urged the secretary to expand eligibility under the Paycheck Protection Program (PPP) to allow more workers in the residential construction sector to access the loan program.

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Housing Shows Strength as Sales and Permits Rise

Filed in Disaster Response, Economics by on June 25, 2020 0 Comments
Housing Shows Strength as Sales and Permits Rise

Consistent with NAHB’s forecast, home building data are showing signs of leading an emerging economic rebound. While risks to the outlook remain, the recession appears to have taken a short and sharp downturn.

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OSHA Issues Guidance on Returning to Offices After Shutdowns

OSHA Issues Guidance on Returning to Offices After Shutdowns

The Occupational Safety and Health Administration (OSHA) late last week issued guidance to assist employers reopening business offices and their employees returning to work during the evolving coronavirus pandemic.

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How Congress Can Help Housing Lead an Economic Recovery

Filed in Capitol Hill, Disaster Response, Home Building by on June 19, 2020 0 Comments
How Congress Can Help Housing Lead an Economic Recovery

The Hill published an editorial by NAHB’s Dean Mon on June 19 detailing how Congress can help housing lead the economy forward.

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HBRA of Central CT Continues Fight Against COVID-19

Filed in Disaster Response, Membership, NAHB Cares by on June 17, 2020 0 Comments
HBRA of Central CT Continues Fight Against COVID-19

The Home Builders & Remodelers Association of Central Connecticut used NAHB connections with Lowe’s Home Improvement to facilitate a donation of DuPont’s Tyvek materials to area manufacturer Thermaxx and to help create PPE to fight COVID-19.

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FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

Filed in Disaster Response, Economics, Housing Finance by on June 17, 2020 2 Comments
FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions until at least Aug. 31, 2020.  The foreclosure and eviction moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The Federal Housing Administration is also extending its foreclosure and eviction moratorium through the end of August for home owners with FHA-insured single-family mortgages.

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