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The Senate recently confirmed Bill Pulte as Federal Housing Finance Agency (FHFA) Director by a 56-43 vote. The FHFA oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, which collectively provide more than $8.5 trillion in funding for U.S. mortgage markets and financial institutions. Currently, the FHFA sets and adjusts the annual investment cap for Fannie Mae and Freddie Mac in the LIHTC market.
The Senate Finance Committee recently voted 16-11 to advance Scott Bessent’s nomination for U.S. Treasury Secretary. His nomination now heads to the Senate floor, where a final confirmation vote is expected in the coming days.
Against a deepening crisis in affordable housing across the country, the U.S. Department of the Treasury urges state action against a long-standing provision in the LIHTC program, commonly referred to as the “qualified contract loophole.”
The Treasury Department recently released a report that analyzed the first year of the Low-Income Communities Bonus Credit Program. The program is part of the Biden-Harris Administration's "Investing in America" agenda and represents an unprecedented i...
HUD recently proposed guidance impacting Low-Income Housing Tax Credit (LIHTC) projects involved in Federal Housing Administration (FHA) Multifamily Rental and Risk Share programs. The proposed guidance is meant to close the qualified contract loophole in the LIHTC program.
The Federal Housing Finance Agency (FHFA) recently announced that tenant protections will be included in new multifamily loan agreements beginning in February 2025. The tenant protections will be required for all multifamily properties financed by the federal enterprises known as Fannie Mae and Freddie Mac (the GSEs). The announcement marks a new era of tenant protections in federally backed multifamily housing.
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