By Andy Peters Published September 19 2018, 5:02pm EDT National Mortgage News The U.S. suffers from a staggering lack of apartments and homes that low-income consumers can afford. The National Low Income Housing Coalition puts the shortage of affordable units nationwide at 7.2 million, and many industry participants believe that the single-best way to tackle the problem is to expand the low-income housing tax credit (LIHTC), a federal tax credit used to encourage development of more affordable housing. Bipartisan legislation is under consideration in Congress to do just that. That’s why the news that PNC Financial Services Group, Wells Fargo and other unnamed banks are being probed for allegedly colluding with developers to win… Read More
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