October 16, 2025
Dear Lending Partners,
We want to inform you that the Mortgage Credit Certificate (MCC) program is being suspended until further notice.
As you know, the MCC program has been a valuable tool in helping borrowers reduce their federal income tax liability, thereby increasing their qualifying income for a mortgage. This program was funded by using part of our Private Activity Bond (PAB) volume cap allocated to us annually by the State of Mississippi, to issue tax credits instead of mortgage revenue bonds. In other words, we “convert” a portion of our volume cap that could otherwise be used to issue bonds into authority to issue MCCs. However, due to the growing demand for our other, more widely used bond-funded programs, we are now utilizing our full volume cap allocation to support those initiatives.
At this time, we no longer have the bond capacity available to fund the MCC program. Should we receive additional or expiring bond cap in the future, we will certainly consider reinstating the program.
MCCs already issued will remain valid, and homeowners who currently hold certificates may continue to claim their tax credit for the life of their loan.
Important Deadlines:
- The last day to make MCC reservations will be November 15, 2025, at 11:59 PM.
- All MCC loans must be closed by the end of business on December 31, 2025.
We appreciate your continued partnership and your commitment to helping Mississippi families achieve homeownership. If you have any questions or need further information, please don’t hesitate to reach out.