COVID-19 Message from Commissioner Montgomery

Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery issued a video message regarding COVID-19. Commissioner Montgomery said that while his goal “to keep this segment of the economy moving and to ensure that American’s have access to safe, decent and affordable housing” stakeholders should expect processing delays as FHA employees transition to work from home.

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Economic and Fixed Income Insights, March 24, 2020

Markets have calmed somewhat in the face of the pandemic caused by the coronavirus, as emergency actions continue to be taken. The Federal Reserve expanded its quantitative easing commitment regarding asset purchases, with no limits on the amount of assets to be purchased, nor a limit on how long the Federal Reserve would be purchasing them. In addition, the Senate came to an agreement for a stimulus package totaling nearly $2 trillion.

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ACTION Legislative Asks Regarding COVID-19

The ACTION Campaign, of which NH&RA is a member, sent this letter to Congress with housing related requests to include in the COVID-19 pandemic response legislation. The statutory requests include:

Immediate one-year extension for three key deadlines:
10 percent test deadlines
Placed in service deadlines
Rehabilitation expenditure deadlines
Enact a minimum four percent LIHTC rate

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