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…
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.
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…
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.
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…
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…
On January 19, 2021, Nixon Peabody, LLP issued an Affordable Housing Alert entitled, “IRS extends many deadlines relevant to Section 42 and affordable housing” by Forrest Milder, Esq.
On January 19, 2021, the Department of Treasury issued Frequently Asked Questions on Emergency Rental Assistance providing guidance on the $25 billion Emergency Rental Assistance (ERA) program enacted under the Consolidated Appropriations Act of 2021.c For more information on the Emergency Rental Assistance Program, click here.
CARH Broadcast Email—Legislative Update On January 14, President-elect Biden announced a $1.9 trillion COVID-19 relief and economic rescue package entitled, American Rescue Plan – Emergency Legislative Package to Fund Vaccinations, Provide Immediate, Direct Relief to Families Bearing the Brunt of the COVID-19 Crisis, and Support Struggling Communities. There are three major components to the proposal:…
Emergency Rental Assistance Program information published. January 6, 2020. The Emergency Rental Assistance program makes available $25 billion to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The funds are provided directly to States, U.S. Territories, local governments, and Indian tribes. Grantees use the funds to provide assistance…