HUD Proposes Rule Regarding Escrows

By Caitlin Jones
November 5, 2009 1 min read

Tax Credit Advisor, November 2009: The U.S. Department of Housing and Urban Development (HUD) is soliciting public comments by 12/8/09 on a proposed rule published 10/9/09 that would amend Federal Housing Administration (FHA) multifamily mortgage insurance regulations. The rule would eliminate the requirement that tax credit syndication proceeds be escrowed at the time of initial endorsement of an FHA loan, so long as all HUD-required cash requirements for closing are otherwise met. The rule would conform FHA regulations to a 2008 statutory change made for federal low-income housing tax credits, and extend this change to equity generated by federal historic rehabilitation and new markets tax credits.

(http://edocket.access.gpo.gov/2009/pdf/E9-24338.pdf)

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.