On June 28, 2023, HUD released a Press Release entitled, Federal Housing Administration Increases Dollar Amount Threshold for Large Multifamily Loans to Be Eligible for Standard Underwriting, Change facilitates greater flexibility for lenders when underwriting Multifamily transactions up to $120 million.
CARH’S BROADCAST E-MAIL – Regulatory Alert June 28, 2023 Rural Development (RD) recently posted an Unnumbered Letter (UL), dated May 25, 2023, entitled, Section 514/516, Section 515, and Section 538 Multi-Family Housing Program Use of Digital/Electronic Signatures. The UL provides guidance to all Multifamily Housing (MFH) program staff on the use of and acceptance of…
On June 16, 2023, HUD sent the following information: NSPIRE Standards that Align & Consolidate Inspection Requirements in Assisted & Insured Housing HUD announced the pending publication of the Final Inspection Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE) in the Federal Register. The Notice marks HUD’s first comprehensive…
The Office of Multifamily Housing’s Production and Preservation Division is issuing standardized appraisal assignment guidance for the following Multifamily Housing Programs: Section 515 Direct Loans, Section 514/516 Farm Labor Housing and the Multifamily Housing Preservation & Revitalization (MPR). The guidance replaces the need for owners to request specific appraisal assignment guidance for each individual transaction.…
The following information was distributed by Rural Development on June 15, 2023: WASHINGTON, June 15, 2023 – U.S. Department of Agriculture (USDA) Rural Development Under Secretary Xochitl Torres Small today announced that USDA will host listening sessions on July 19 and July 25. USDA is seeking feedback on a proposal to make changes to…
CARH’S BROADCAST E-MAIL – Annual Meeting June 7, 2023 CARH’s 2023 Annual Meeting & Legislative Conference, which will be held June 26-28 at The Ritz-Carlton, Pentagon City in Arlington, Virginia, is just over two weeks away! As a valued stakeholder in the rural affordable housing industry, you don’t want to miss this important conference! A…
CARH’S BROADCAST E-MAIL – Annual Meeting June 1, 2023 CARH’s 2023 Annual Meeting & Legislative Conference scheduled for June 26-28 is right around the corner! Due to the popularity of the meeting, CARH’s hotel room block at The Ritz-Carlton, Pentagon City is currently full. However, things change regularly so try to make a reservation as…
On June 1, 2023, RD sent out the following information: In accordance with the FY23 Consolidated Appropriations Act, USDA is directed to conduct a series of stakeholder meetings and provide a report to Congress on how decoupling of Section 521 Rental Assistance (RA) from Section 515 Rural Rental Housing mortgages would be implemented. A critical…