June 20, 2017
Tuesday’s Regulatory & Legislative Roundup
- The Federal Housing Finance Agency (FHFA) released their 2016 Report to Congress. This report is mandated by federal statute and examines many mortgage and financial institutions such as Fannie Mae and Freddie Mac. Additionally, the report provides guidance for each company’s regulatory rules and FHFA’s research and publications.
- The Department of Housing and Urban Development (HUD) provided approximately 220 million dollars in funds this week to America’s lowest income citizens. The Housing Trust Fund, established by Congress in 2008, dispersed funds to various states in order to aid the poor and homeless.
- The Affordable Housing Credit Improvement Act of 2017 (AHCIA), if approved may improve the productiveness and effectiveness of America’s low-income housing tax credit. If the the shifts are approved, more applicants will qualify for a boost. Additionally, if the proposed Act removes the cap on QCT, more than 20% of families will qualify the housing aid in designated areas.