As a result of the passage of the Tax Cuts and Jobs Act which preserves Mortgage Credit Certificates (MCC), the CalHFA MCC Tax Credit Program will continue to issue compliant MCC certificates until CalHFA's MCC allocation has been exhausted. (After which, CalHFA is not planning to seek additional allocation.)
At this time, Lenders may continue to reserve MCCs on the eHousingPlus website, notwithstanding the December 18, 2017 date mentioned in Program Bulletin 2017-13 which had required lenders to have their MCC packages submitted and cleared of deficiencies before the end of 2017.
NOTE: As further stated in Program Bulletin 2017-13, please be aware that an MCC will continue to be ineligible for credit qualifying purposes on CalHFA first mortgage loans reserved on or after Friday, November 17, 2017. MCCs used for credit qualifying on a CalHFA first loan reserved on or after November 17, 2017 may be subject to re-underwriting and requalifying.
Thank you for your continued partnership with CalHFA.
