Housing Finance

Fannie Mae, Freddie Mac Re-enter the Low Income Housing Tax Credit Market

Filed in Housing Finance by on November 16, 2017 0 Comments
Fannie Mae, Freddie Mac Re-enter the Low Income Housing Tax Credit Market

In a positive development that should help boost the affordable housing market, the Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will be allowed limited re-entry into the Low-Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately.

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FHA Capital Reserves Above Statutory Minimum for Third Straight Year

Filed in Housing Finance by on November 15, 2017 0 Comments
FHA Capital Reserves Above Statutory Minimum for Third Straight Year

The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio fell by $1.9 billion to a total economic net worth of $25.6 billion.

However, for the third straight year FHA’s reserve ratio has exceeded the congressionally mandated 2% threshold. FHA’s Mutual Mortgage insurance Fund now stands at 2.09% of the loans back stopped by the agency, vs. the 2.35% level from a year ago.

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Senate Tax Reform Bill: Better for Affordable Housing

Filed in Capitol Hill, Housing Finance, Multifamily by on November 10, 2017 0 Comments
Senate Tax Reform Bill: Better for Affordable Housing

The Senate tax reform legislation represents a much better deal for multifamily developers and members of the affordable housing community.

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NAHB Calls on Congress to Enact Comprehensive Housing Finance Reform

Filed in Capitol Hill, Housing Finance, Leadership by on November 2, 2017 1 Comment
NAHB Calls on Congress to Enact Comprehensive Housing Finance Reform

Congress must move swiftly to implement comprehensive reforms to the nation’s housing finance system to ensure that housing credit remains readily available and affordable in the future, NAHB said in testimony today.

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NAHB Commends GOP Tax Reform Plan

Filed in Economics, Housing Finance by on September 27, 2017 12 Comments
NAHB Commends GOP Tax Reform Plan

President Trump and Republican congressional leaders today introduced a broad framework to alter the tax code that would lower business and individual rates. In an official statement, NAHB Chairman Granger MacDonald said this plan “represents a positive step in the right direction.”

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NAHB Commends Pamela Patenaude’s Confirmation as HUD Deputy Secretary

Filed in Housing Finance by on September 14, 2017 0 Comments

NAHB commends the Senate confirmation of Pamela Patenaude as the new HUD deputy secretary. This is an especially important time to have the HUD leadership at full strength as the government and private sector work together to meet the critical housing needs of the millions of households impacted by Hurricanes Harvey and Irma.

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HUD Proposes 2018 Difficult Development Areas, Qualified Census Tracts

Filed in Housing Finance, Multifamily by on September 12, 2017 0 Comments

HUD published a Federal Register notice Monday that designates Difficult Development Areas (DDA) and Qualified Census Tracts (QCT) for 2018.

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Higher Loan Limits a Catalyst for Home Sales

Filed in Economics, Homeownership, Housing Finance by on July 31, 2017 0 Comments
Higher Loan Limits a Catalyst for Home Sales

Affordability is a top concern for more home shoppers. That’s why last year NAHB helped push for higher limits on single-family loans. Increasing the limits has resulted in lower borrowing costs for home buyers, and helped spur home sales thus far in 2017.

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Proposal Would Raise Appraisal Threshold on Commercial Real Estate Loans

Filed in Housing Finance by on July 19, 2017 0 Comments
Proposal Would Raise Appraisal Threshold on Commercial Real Estate Loans

The Federal Reserve Board, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency today issued a notice proposing to increase the threshold form requiring an appraisal on commercial real estate loans from the current level of $250,000 to $400,000.

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CFPB Publishes Final ‘Know Before You Owe’ Rule

Filed in Codes and Regulations, Housing Finance by on July 10, 2017 0 Comments
CFPB Publishes Final ‘Know Before You Owe’ Rule

The Consumer Financial Protection Bureau on July 7 published final updates to its “Know Before You Owe” mortgage rule, offering amendments on finance charge disclosures, disclosures tied to housing assistance that a borrower receives, and when information can be shared with third-parties, including real estate agents.

Of particular interest to NAHB, the final rule clarifies disclosures for construction and construction-to-permanent loans addressing many of the concerns lenders have expressed in making these loans.

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