Below, please find three Housing Credit updates related to the 2019 Credit volume caps and small state minimum, the Priority Guidance Plan for the Treasury Department and the IRS, and the prescribed LIHTC rates for December. 2019 Housing Credit and Private Activity Bond Volume Cap amounts This week, the IRS issued the 2019 per capita and small state minimum volume […]
1. Please find here the HUD Multifamily Risk Rating Summary sheet used for troubled properties. Over 29,000 active MF assets are rated according to the scale in the attached sheet. 2. HUD HQ Update on Suspending Global MORs – The HUD MF Leadership Team provided the following message for NAMHA members: “Thank you again for the opportunity to address your members at your fall conference […]
HUD’s Office of Multifamily Housing shared the following policy updates on Physical Conditions Standards and Inspection Requirements (H 2018-08), Wholesale REAC re-examination, and FHA Principal Risk Criteria Revision (H 2018-09). Please note that I have attached the REAC update and the physical inspection notice. Servicing of Projects That Do Not Meet HUD’s Physical Condition Standards and Inspection Requirements (PCS&IR) or Fail to Certify That Exigent Health […]
Below, please find three recent updates from USDA regarding allowable expenses and reserve accounts for Multi-Family Housing properties, and reallocation of Rental Assistance units for properties no longer in the program. Allowable Expenses in Multi-Family Housing Properties The Rural Housing Service (RHS) published an Unnumbered Letter (UL) to clarify allowable expenses to be paid by project income in Rural Development-financed […]
[HUD-Nor-Cal] You’re Invited! October 2018 HUD MF West Region San Francisco Industry Meet and Greet!
HUD Multifamily West Region, San Francisco Asset Management Division will host an Industry Meet and Greet on Thursday, October 18, 2018 from 10am to 12pm Pacific Time. The event will be held at the San Francisco Regional office. We are excited to introduce to the Industry our new Asset Management Division Director, Janéa Jackson. Janéa has joined us from the General […]
Below, please find two updates from HUD regarding an upcoming Family Self-Sufficiency Listening Session and revised procedures for submitting Form HUD 9807. 1. Revised Procedures for Submitting Form HUD 9807 Mortgagee Letter 2018-07 published yesterday provides updated guidance on the submission of form HUD 9807, Insurance Termination Request for Multifamily Mortgage, for obtaining prepayment approval for multifamily rental housing loans. […]
Today, NAHMA published a new NAHMAnalysis titled “NAHMA Member Feedback: Management and Occupancy Reviews.” The report outlines challenges members have experienced with the MOR form and process, as well as recommendations to HUD for improvements. To view the NAHMAnalysis online, please click here. Thanks to everyone who submitted feedback for this report,
We continue to keep those affected by Hurricane Florence and other disasters in our thoughts. Below, please find updates regarding mortgage assistance options, guidance for FHA-Approved Mortgagees and Servicers, and an invitation to a Multifamily Stakeholder Disaster Recovery Meeting in Puerto Rico on September 25, 2018. The Federal Housing Administration (FHA) sent a reminder to mortgagees about its guidance for originating and/or […]
The 2019 National Affordable Housing Management Association (NAHMA) Drug-Free Kids Calendar makes a great back-to-school gift, or can be fun resident and staff giveaways. Order some today to have on hand as future prizes by visiting the Online Store at www.nahma.org. A downloadable order form is also available on the calendar contest webpage. The calendars will begin shipping in mid-September. The cost is $5.50 per […]