The Federal Housing Finance Agency (FHFA) has published the Annual Housing Report to Congress, which covers activities for 2019 relating to Fannie Mae and Freddie Mac’s (the Enterprises) housing goals performance, as well as the results of its evaluations and ratings of the Enterprises’ 2019 Duty to Serve performance. FHFA has determined that the Enterprises…
BROADCAST EMAIL – Regulatory Update The Internal Revenue Service (IRS) published a proposed rule in the October 29th Federal Register entitled, “Section 42, Low-Income Housing Credit Average Income Test Regulations.” Once finalized, the rule would provide guidance on implementation of the Average Income Tax (AIT), as established by the Consolidated Appropriations Act of 2018, which…
The IRS released Rev. Proc. 2020-42 that announces $3,105,001 of unused housing credit carryovers allocated to qualified states under § 42(h)(3)(D) of the Internal Revenue Code for calendar year 2020.
BROADCAST EMAIL – Regulatory Update On Friday, Rural Development’s (RD) Office Multifamily Housing (MFH) announced that, effective October 11, 2020, Becki Meyer, Byron Waters, Karissa Stiers, and Laurie Warzinski will become the first Regional Directors of MFH’s Field Operations Division. As you know, the new Field Operations Division was created as part of the recent…
CARH’s BROADCAST EMAIL – Legislative & Regulatory Update 1) President Signs into Law Continuing Resolution for FY 2021 Just after midnight today, President Trump signed into law H.R. 8337 – Continuing Appropriations Act, 2021 and Other Extensions Act (Public Law number has yet to be assigned). This legislation is a short-term Continuing Resolution (CR) for…