HUD is taking steps to implement Housing and Economic Recovery Act (HERA) provisions for processing FHA financing for low-income housing tax credit projects, including modifying equity contribution, physical inspection, and subsidy layering requirements. The department discussed the changes in a November 18 meeting with representatives from the National Association of Home Builders (NAHB) and the Mortgage Bankers Association (MBA), according to Claudia Kedda, NAHB director of multifamily finance.
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