HUD’s Office of Multifamily Housing published a Mortgagee Letter announcing the revised method for calculating cost-not-attributable to residential use that is simpler, saves time, and achieves standard results across the country. The Mortgagee Letter will shortly replace the Multifamily Accelerated Processing (MAP) Guide Appendices A.5.10 and A.5.11 with a single, shorter, new Appendix A.5.10. While the MAP Appendix is revised, the Mortgagee Letter contains in detail the revised calculation method for construction, existing, and supplemental loans. The changes contained in today’s Mortgagee Letter are effective immediately.
New Training Available on Resident Engagement Updates in the 2023 RAD Supplemental
The Office of Recapitalization’s Resident Engagement and Protections team produces educational materials and provides technical assistance (TA) to residents, PHAs, and owners around resident rights. This helps to ensure that the robust resident protections built into RAD are implemented effectively by program participants. A new recorded training on updates to the HUD requirements focused on RAD resident engagement is now available on the RAD resident site (where updated fact sheets and educational videos can be found as well). This overview explains changes such as the requirement for additional resident meetings and required documents to be submitted in accordance with the new 2023 RAD Supplemental Notice (published July 27, 2023). The Supplemental Notice can be found here. The changes to resident engagement requirements go into effect on September 20, 2023, and the link to the training can be found here.
Office of Recapitalization To Host Office Hours on Updated Resident Engagement Requirements
To assist the public in understanding the new requirements for RAD resident engagement described in the RAD Supplemental Notice, the Office of Recapitalization’s Resident Engagement and Protections Team will be hosting Office Hours on September 26, 2023, at 1 pm EDT. These office hours will be open to the public and attendees will be able to ask the Resident Engagement and Protections Team their questions about the RAD resident engagement rules and process. To sign up and join the office hours, please register here. If you have any questions, please contact us at . Please note that the office hours begin at 1 pm EDT and will conclude when there are no remaining questions.
Reminder! Faircloth-to-RAD Webinar Registration
HUD is hosting a Faircloth-to-RAD Webinar on Wednesday, September 20, 2023, 1:00-3:00 pm EDT. The webinar will provide an overview of Faircloth-to-RAD, including the new changes made through the RAD Supplemental Notice.
Click the link below for more details and registration information.