Federal Housing Finance Agency Director Melvin Watt addressed concerns about mortgage relief options for homeowners in December in areas affected by the 2017 hurricanes and wildfires.  These include: Eligibility to stop making monthly mortgage payments in 3-month intervals for up to 12 months; Waiving of late fees and delinquency reports to the credit bureaus; No Continue reading

CALIFORNIA FEMA Governor Brown’s office sent an official request for a major disaster declaration for the southern California wildfires on December 20, and the President was to evaluate this request with FEMA for a quick response.  The major disaster request, if approved, would make available individual assistance as well as public assistance, specifically the Individuals Continue reading

Despite the admonitions of senators from disaster-affected states, a third disaster aid supplemental installment was not attached to the continuing resolution Congress passed last night to keep the government open through January 19.  The House’s $81 billion disaster supplemental proposal is not looking at an easy ride in the Senate.  There are Democrats and Republicans Continue reading

The tax exemption for private activity bonds (PAB) survived the House and Senate Tax Reform bills.  The legislation preserves the 9% and 4% Low Income Housing Tax Credit (Housing Credit)—representing a significant victory for our housing advocates.  The bill does, however, lack the bipartisan reforms that would have improved the Housing Credit and its reach Continue reading

The big news:  Last night the House released its $81 billion disaster aid package.  According to Politico, it is the largest single funding request for natural calamities in U.S. history and nearly doubles the White House’s request for $44 billion. The expectation is that the bill (HR 4667 by Rep. Frelinghuysen of New Jersey) will be approved this Continue reading