Progress on Housing Finance Reform
This evolving role has seen CFOs become more valued strategic and commercial partners, but exactly how much has their role changed and whats in store for the future? To shed light on the subject, Oracle partnered with Accenture Accenture to conduct a comprehensive global research study (The CFO as Catalyst for Change) of more than 930 CFOs from organizations of varying sizes and from multiple continents. As the Wall Street Journals CFO Journal summarized, the study highlights the evolution of the CFOs role from financial overseer to corporate strategist and change agent. According to the study, 71 percent of respondents have seen their overall level of strategic influence increase over the past three years.
Finance Fund Receives $2 Million in Ohio New Markets Tax Credits
Other possible outcomes for housing finance reform are to maintain the status quo in which Fannie and Freddie are controlled by the government and there is no private capital, or to move to a private system in which government involvement is limited to the small share of loans made with the involvement of agencies such as the Federal Housing Administration that work with targeted groups of borrowers. Both of these alternatives are flawed. The current government-dominated system exposes taxpayers to needless risk and stifles the possibility of beneficial competition and innovation. Not moving forward with reform would lock in this unfortunate situation. A move to a fully private system seems desirable, but it is difficult to see this as a stable outcome or one that actually protects taxpayers in the event of an inevitable future crisis. This is because the government will feel compelled to intervene in the face of any future housing market collapse, regardless of promises that the system was private.
CDEs that received a tax credit allocation from the Federal New Markets Tax Credit program are eligible to apply. Other fourth-round Ohio NMTC recipients include: Cincinnati Development Fund, Development Fund of the Western Reserve, and the Dayton Region New Market Fund, LLC. About Finance Fund ( FinanceFund.org ) Throughout Ohio, Finance Fund connects low-income communities with public and private sources of capital and simplifies the complexities of the financing process to help good economic development ideas come to life. To date, Finance Fund has received eight federal New Markets Tax Credit allocations totaling $240 million.