FEDERAL HOUSING FINANCE BOARD PUBLISHES FINAL AHP RULE

Friday, October 6, 2006 - 7:00am

The Federal Housing Finance Board (FHFB) today announced a final rule amending its Affordable Housing Program (AHP) regulation by making several changes, including many that affect deals that use AHP financing in conjunction with low-income housing tax credits (LIHTCs). FHFB says the final rule removes prescriptive requirements, clarifies certain operational requirements, provides additional discretionary authority in certain areas, removes certain authorities and otherwise streamlines and reorganizes the regulation. The final rule is effective on January 1, 2007.