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News
The U.S. Department of Housing and Urban Development (HUD) announced federal relief Tuesday for those affected by California wildfires. President Trump issued a major disaster declaration for Butte, Los Angeles and Ventura counties, so HUD will now share information with the Federal Emergency Management Agency and the state about housing providers that may have available units for affected residents.
The Treasury Department on Thursday released the 2018-2019 Priority Guidance Plan, which includes plans to provide guidance for the low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic tax credit (HTC). The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019.
Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a
The Community Development Financial Institutions (CDFI) Fund opened the fiscal year 2019 application period for the CDFI Bond Guarantee Program. The CDFI Bond Guarantee Program provides long-term, low-cost capital for economic growth in low-income communities. As much as $500 million in bond guarantee is available to eligible CDFIs in 2019, pending Congressional authorization.
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac each have $35 billion multifamily lending caps for 2019. Those figures are unchanged from 2018 and are based on FHFA’s projections of the size of the 2019 multifamily originations market. The FHFA will review its estimates of the multifamily loan origination market each quarter and will adjust caps if necessary, although it will not reduce the caps.
The Community Development Financial Institutions (CDFI) Fund today announced that it resumed accepting CDFI certification applications through the Awards Management Information System (AMIS). The CDFI Fund halted the application submission process through AMIS Aug. 1 to make critical system changes.
The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations that became public in October. Of the 37 evaluations, 30 were rated satisfactory and seven were outstanding. The list includes only national banks, federal savings associations and insured federal branches of foreign banks.
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