FHA Hopes To Speed Up Tax Credit Deals Through Pilot Program


Click link below to read the full article on MFE.comThe Federal Housing Administration (FHA) will start a new pilot program in the spring charged with getting affordable housing deals done much more quickly.

The Tax Credit Pilot Program was originally mandated more than three years ago by the Housing and Economic Recovery Act (HERA) of 2008. But a change in administrations, and several bureaucratic hold-ups, have delayed its implementation. The program, modeled on the LEAN program for healthcare loans, will expedite the processing of deals using low-income housing tax credits (LIHTCs).

The FHA has made many programmatic strides in its desire to do more LIHTC deals—essentially making its process and requirements more borrower-friendly over the past three years. The agency even included a chapter on tax credit deals for the first time in its latest revision of the Multifamily Accelerated Processing (MAP) guide.

Read the full article on MFE Online.

Reprinted with permission from Multifamily Executive, a publication of Hanley Wood © December 2011

Related Posts

New MAP Guide Released September 15 915 2011
HUD Takes Aim at Loan Delays March 1 301 2012
Certainty Of Execution March 2 302 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Multifamily Real Estate in Demand September 11 911 2013
Ohio Housing Conference October 24 1024 2013
RAD Program Updates January 28 128 2015
New MAP Guide Changes February 1 201 2016
Exciting Changes at HUD February 3 203 2016
HUD Construction Financing March 18 318 2016
VAHCDO Annual Conference March 19 319 2016
New LEAN Handbook May 23 523 2016
ahf-faq-5-copy_26562408-1.png Affordable Housing Finance FAQ January 11 111 2018
Top 5 Reasons We Love HUD January 31 131 2018