With this Notice and related Mortgagee Letter, HUD is announcing a new phase to the Department's Low-income Housing Tax Credit Pilot Program (the "New Pilot") under the authority of the Housing and Economic Recovery Act of 2008, Public Law 110-289, in subtitle B of Title VIII, cited as "the Housing Tax Credit Coordination Act of 2008 (HERA)", for streamlining the review process for FHA mortgage insurance application processing.
See attached for full notice.