Tuesday mix: tax relief, PHAs' guidance, etc.
- The IRS has posted Publication 4492, its summary of tax relief measures resulting from the 2005 hurricanes.
- HUD Mortgagee Letter 2006-03 provides new guidance on "Refinancing of FHA Insured Multifamily Project Mortgages Pursuant to Section 223(a)(7)."
- HUD Public and Indian Housing Notice 2006-06 provides guidance to housing authorities on "Energy Performance Contracts" with terms up to 20 years, to be entered under the new Energy Policy Act of 2005 (Pub. Law 109-58).
- The law firm of Nixon Peabody suggests that the final and proposed Sec. 8 contract renewal regs HUD published on Jan. 12 "may be signaling a tightening of the use of budget-based calculation in reaching subsidy renewal amounts." Among other observations, the firm says "It is now completely clarified by these regulations that HUD has made the decision that as a legal matter a Section 524 renewal contract retains the right to be eligible for restructuring subsequent to its Initial Renewal. To our knowledge, this has been HUD policy, but now it is codified in Regulation." This and more in an "Affordable Housing Alert" distributed today by the firm. It doesn't seem to be posted on the firm's Web site yet but it might be worth checking back. Wait a few days and look in the affordable housing category under "Publications."
- Not sure if this will affect housing investors at all, but just in case, the IRS has a new final rule out on "Reporting for Widely Held Fixed Investment Trusts."
- The SF Chron has some perspective on yesterday's $295 million multistate settlement with Ameriquest over allegedly predatory subprime home loans.
- HUD has released $58 million in Youthbuild on-the-job training funds.
- There are HUD comment requests posted on requirements for public housing authorities' leasing records and on "Screening and Eviction for Drug Abuse and Other Criminal Activity."
- HUD Mortgagee Letter 2006-03 provides new guidance on "Refinancing of FHA Insured Multifamily Project Mortgages Pursuant to Section 223(a)(7)."
- HUD Public and Indian Housing Notice 2006-06 provides guidance to housing authorities on "Energy Performance Contracts" with terms up to 20 years, to be entered under the new Energy Policy Act of 2005 (Pub. Law 109-58).
- The law firm of Nixon Peabody suggests that the final and proposed Sec. 8 contract renewal regs HUD published on Jan. 12 "may be signaling a tightening of the use of budget-based calculation in reaching subsidy renewal amounts." Among other observations, the firm says "It is now completely clarified by these regulations that HUD has made the decision that as a legal matter a Section 524 renewal contract retains the right to be eligible for restructuring subsequent to its Initial Renewal. To our knowledge, this has been HUD policy, but now it is codified in Regulation." This and more in an "Affordable Housing Alert" distributed today by the firm. It doesn't seem to be posted on the firm's Web site yet but it might be worth checking back. Wait a few days and look in the affordable housing category under "Publications."
- Not sure if this will affect housing investors at all, but just in case, the IRS has a new final rule out on "Reporting for Widely Held Fixed Investment Trusts."
- The SF Chron has some perspective on yesterday's $295 million multistate settlement with Ameriquest over allegedly predatory subprime home loans.
- HUD has released $58 million in Youthbuild on-the-job training funds.
- There are HUD comment requests posted on requirements for public housing authorities' leasing records and on "Screening and Eviction for Drug Abuse and Other Criminal Activity."
posted by Martha Bridegam at 11:16 AM
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