FHFA Releases 2023 Annual Housing Report
On October 30, FHFA released its 2023 Annual Housing Report outlining Fannie Mae and Freddie Mac’s affordable housing activities in 2022
Nov 10, 2023
Housing Finance News
IRS Increases LIHTC, Bond Volume Caps
The Internal Revenue Service has announced an increase in the low-income housing tax credit (LIHTC) and private-activity bond volume caps for 2023. The amounts used to calculate the state credit ceiling for 9% LIHTCs will be the greater of $2.90 multiplied by the...
IRS Issues 2023 Population Figures for Housing Credit, Private Activity Bond Volume Caps
The Texas Resident Population Figure is 30,029,572. The amount for calculating the Credit Ceiling is the greater of $2.75 multiplied by the State population, or $3,185,000.
FHFA Announces More than $1.1 Billion for Affordable Housing Programs
FHFA announced that the Housing Trust Fund and Capital Magnet Fund will receive a total of $1.138 billion for affordable housing initiatives.
FHFA Finalizes 2022-2024 Single-Family and 2022 Multifamily Housing Goals for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a final rule for Fannie Mae and Freddie Mac (the Enterprises) that establishes the benchmark levels for each of the single-family housing goals and subgoals for 2022 through 2024 and establishes the benchmark...
Palladium USA Closed Financing for Embree Eastside in Garland
Palladium USA closed financing and is under construction on Embree Eastside in Garland with 75% of units set aside for low-income residents.
City of Austin opens applications to non-profits for funding land acquisitions and affordable housing construction
The City of Austin’s Community Acquisition Program, a part of Project Connect’s Anti-Displacement initiatives, provides zero-percent interest forgivable and non-forgivable loans to eligible non-profit organizations for the acquisition of property that increases the supply of affordable housing.
IRS Releases Guidance on Minimum 4 Percent Housing Credit Rate
On December 1, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance to address ambiguities related to the application of the Housing Credit 4 percent minimum rate for bond-financed buildings.
KeyBank arranges $43.8 million in financing for The Reserves at San Marcos
KeyBank Real Estate Capital arranged a construction loan and permanent financing for the development of affordable housing at The Reserves at San Marcos.
Analyzing the Impact of Lowering the 50% Test for 4% Tax-Exempt Bond-Financed Properties
This week, NCSHA published a report showing how lowering the “financed-by” threshold — commonly referred to as the 50 percent test — for bond-financed Housing Credit projects would impact available Private Activity Bond cap and could increase multifamily affordable housing production.
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