CalHFA
Program Bulletin 2017-13 announced some updated guidelines to the CalHFA MCC Tax Credit Program due to the uncertain outcome of the proposed federal tax reform bill; please see below for a reminder of important dates effected by these updated guidelines:
- A Mortgage Credit Certificate (MCC) may not be used for credit qualifying purposes for any CalHFA first mortgage loan reserved on or after Friday, November 17, 2017. Lenders may continue to reserve MCCs for non-credit qualifying purposes being mindful of the December 18, 2017 submission and clearance date to eHousingPlus.
- All loans must be closed and the MCC package must be submitted and cleared of deficiencies by eHousingPlus on or prior to December 18, 2017 so MCC certificates may be issued prior to year-end. There is no guarantee that MCC certificates can be issued for any submission after December 18, 2017.
Thank you for your continued partnership with CalHFA.
