Recent News
The Treasury Department today released the first tranche of proposed guidance for the opportunity zones (OZ) incentive, addressing gains invested in qualified opportunity funds. Treasury also released a related revenue ruling. Treasury will accept comments for 60 days.
The U.S. Department of Housing and Urban Development (HUD) this week issued guidance for Housing Trust Fund grantees. Notice CPD-18-12 outlines commitment and expenditure requirements, as well as how HUD determines compliance with deadline requirements. The notice is effective until it is amended, superseded or rescinded.
The Federal Housing Administration (FHA) today announced that it is extending its multifamily risk-sharing initiative with the Federal Financing Bank for eligible housing finance agencies (HFAs) through the end of 2018, a decision that will likely reduce the cost of FHA-insured multifamily risk-sharing loans. The risk-sharing initiative was originally scheduled to stop accepting new applications from HFAs at the end of September, but will now accept applications through Dec. 31 for commitments up to the program maximum of $3 billion.
The U.S. Department of Housing and Urban Development and the U.S. Virgin Islands today announced the formal execution of a $243 million grant agreement through the Community Development Block Grant-Disaster Recovery program to help residents of the U.S. Virgin Islands recover from hurricanes Irma and Maria.
Sen. Elizabeth Warren, D-Mass., today introduced the American Housing and Economic Mobility Act of 2018, legislation that would invest $445 billion in the Housing Trust Fund, $523 billion in rural housing programs and strengthen provisions in the Community Reinvestment Act to hold more financial intuitions accountable and strengthen sanctions for failure to follow rules.
Recent Updates
