NAHMA Rural Housing Update: Reserve Accounts, Allowable Expenses, and Reallocation of Rental Assistance

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 […]

NAHMA HUD Update: Family Self-Sufficiency Listening Session and Revised Procedures for Submitting Form HUD 9807

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. […]

NAHMAnalysis – “NAHMA Member Feedback: Management and Occupancy Reviews”

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,

NAHMA Disaster Recovery Update: Mortgage Assistance Options and Emergency Preparedness 101 Meeting in Puerto Rico

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 […]

Stock Up on 2019 NAHMA Drug-Free Kids Calendars

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 […]

NAHMA HUD Update: FY19 Fair Market Rents and Suspension of 24-month HOME Commitment Requirement

Below, please find information regarding two recent HUD updates on Fair Market Rents and HOME Commitment Requirements. Fiscal Year 2019 Fair Market Rents Recently, HUD published the fiscal year 2019 Fair Market Rents (FMRs). The FMRs are effective October 1, 2018, unless HUD receives a request before then for reevaluation of specific area FMRs. HUD’s Notice also addresses a previous […]

NAHMA HUD Update: TRACS Deadline Extension Notification on Transport Layer Security (TLS) 1.0 Upgrade

Please find a TRACS Notification on the Transport Layer Security (TLS) upgrade. The notification is available online here. 1. What Is TLS SSL stands for Secure Sockets Layer and was originally created by Netscape. SSLv2 and SSLv3 are the 2 versions of this protocol (SSLv1 was never publicly released). After SSLv3, SSL was renamed to Transport Layer Security and started with TLSv1.0 […]

NAHMA HUD Update: TRACS Notification on Transport Layer Security (TLS) 1.0 Upgrade

Below, please find a TRACS Notification on the Transport Layer Security (TLS) upgrade. The notification is available online here. 1. What Is TLS SSL stands for Secure Sockets Layer and was originally created by Netscape. SSLv2 and SSLv3 are the 2 versions of this protocol (SSLv1 was never publicly released). After SSLv3, SSL was renamed to Transport Layer Security and started with […]

NAHMA LIHTC Update: Low-Income Housing Tax Credit Rates for September 2018

The Internal Revenue Service (IRS) recently issued Revenue Ruling 2018-23, which provides various prescribed rates for federal income tax purposes, including applicable federal interest rates, adjusted applicable federal interest rates, and adjusted long-term and tax-exempt rates for September 2018. As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for September 2018: Appropriate percentage for the 70% present value low-income housing credit: 7.68% […]