FHFA Authorizes More than $1 Billion for Affordable Housing Funds
March 1, 2021 — Federal Housing Finance Agency FHFA Authorizes More than $1 Billion for Affordable Housing Funds
Response to HUD on FAQs Published in Regarding Emergency Rental Assistance Program
On February 26, 2021, housing industry stakeholders, including CARH, send a letter to the Secretary of Treasury and Secretary of Housing & Urban Development in response to the recently updated FAQs regarding the Emergency Rental Assistance Program. In addition to comments on the FAQs, the letter also lists items that need addressed and/or implemented.
Federal Judge Rules Eviction Moratorium is Unconstitutional
CNN – Federal judge rules eviction moratorium is unconstitutional A copy of the decision can be found here. In addition, Nixon Peabody, CARH’s General Counsel, published an Affordable Housing Blog post by Harry J. Kelley on this subject. The article can be found here.
Treasury Issues Revised FAQs for the Emergency Rental Assistance Program
BROADCAST EMAIL – Regulatory Update Today, the Department of Treasury posted updated Frequently Asked Questions (FAQs) for the Emergency Rental Assistance Program (ERAP). The 2021 Consolidated Appropriations Act established the ERAP, administered by the Secretary of the Treasury, to assist renter households most vulnerable to the economic impacts of the current crisis. Additional information on the…
Rural Development Provides FAQs on Multifamily Annual Financial Reporting in FY 2020
On February 18, 2021, Rural Development’s Office of Multifamily Housing released the following Frequently Asked Questions on Multifamily Annual Financial Report in Fiscal Year (FY) 2020 to provide to provide further guidance regarding FY 2020 annual reports and several of the variables due to the COVID-19 pandemic: Q1: Annual financial reports are due 90 days…
CARH Submits Comments on Notice of Proposed Rulemaking Regarding CRA Regulatory and Supervisory Framework
On February 16, 2021, CARH submitted comments to the Board of Governors of the Federal Reserve System in response to the Advance Notice of Proposed Rulemaking regarding modernizing the Community Reinvestment Act regulatory and supervisory framework.
Biden Administration Announces Extension of COVID-19 Forbearance and Foreclosure Protections for Homeowners
On February 16, 2021, The Biden Administration announced that the Departments of Housing and Urban Development, Agriculture, and Veterans Affairs are extending the foreclosure moratorium for homeowners with federally backed loans through June 30, 2021, as well as extending the mortgage payment forbearance enrollment window until June 30, 2021. In addition, up to six months…
** Emergency RA Program Payments Released by Department of Treasury
The Department of Treasury released a list of States and Eligible Units of Local Government that received Emergency Rental Assistance Program Payments as of January 26, 2021.
Eviction Moratorium Update
BROADCAST EMAIL – Regulatory Update The U.S. Centers for Disease Control and Prevention (CDC) updated its Order prohibiting evictions for nonpayment of rent until March 31, 2021. The new Order is effective January 31, 2021. Originally, the CDC issued a version of this Order on September 1, 2020, made effective by publication in the Federal…
Section 538 Guarantee Fee Forum
BROADCAST EMAIL – Regulatory Update Attendees at CARH’s recent Midyear Meeting learned from agency officials during the “One-on-One with the Regulators” session that Rural Development (RD) planned to hold a forum with stakeholders to discuss the changes to the Section 538 Guaranteed Rural Rental Housing Program’s Initial and Annual Guarantee fees (see Final Rule published…