Banking regulators issued a notice of proposed rulemaking on the treatment of High Volatility Commercial Real Estate (HVCRE) loans on September 18.
As previously reported, S.2155 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) was signed into law on May 24, 2018 and included language modifying regulatory rules pertaining to HVCRE loans. The banking regulators had issued guidance on July 6 in advance of the proposed rulemaking in order to provide banks interim steps to follow prior to final rulemaking.
NMHC/NAA worked with industry members in drafting the legislation to the existing banking guidelines pertaining to HVCRE loans and will continue to work to obtain relief from the existing capital regime on multifamily construction loans.
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