On July 27, 2023, HUD’s Office of Multifamily Housing Programs sent out the following information: Today, HUD published a Supplement to the RAD Notice, which makes discrete changes to the RAD Notice. Among other changes, this Supplement implements additional budget authority and additional flexibilities to augment initial contracts rents for Section 202 PRAC conversions; strengthens…
Rural Housing Services’ Multifamily Housing Production and Preservation Division sent out the following information on July 27, 2023: For customer awareness and transaction planning, Rural Development’s Office of Multifamily Housing’s Production and Preservation (P2) Division, is announcing its 2023 calendar year-end closing schedule. Owners and applicants intending to close a transaction on or before December…
CARH’S BROADCAST E-MAIL – Regulatory Alert July 28, 2023 Below, please find CARH’s Broadcast email prepared for CARH members by Rebecca Simon, Esq. and Harry Kelly, Esq., from Nixon Peabody, CARH’s General Counsel. On July 27, 2023, the Biden Administration announced a series of actions focused on protecting renters’ rights. This announcement follows the release…
CARH’S BROADCAST E-MAIL – Member Update July 12, 2023 The Summer 2023 edition of CARH’s Insights for On-sites has just been published and copies will soon be mailed to CARH members and CARH-member properties. A PDF version can also be viewed and downloaded by clicking here, or by visiting the Resources/Publications section of CARH’s website,…
RD’s Multifamily Housing sent out the following information on July 7, 2023: Multifamily Housing Partnership Updates Date: Thursday, July 20, 2023 | Time: 3:00 p.m. Eastern Time Join USDA Rural Development Multifamily Housing (MFH) leadership to receive updates on MFH programs. USDA Rural Development MFH leadership hold these quarterly to provide updates to our customers. To…
CARH’S BROADCAST E-MAIL – Regulatory Alert July 6, 2023 On June 30, HUD posted Notice PIH 2023-16/H 2023-07 entitled, Implementation of National Standards for the Physical Inspection of Real Estate (NSPIRE) Administrative Procedures. The purpose of the Notice is to implement portions of the final rule, Economic Growth Regulatory Relief and Consumer Protection Act: Implementation…
On July 5, 2023, Rural Development sent out the following Stakeholders Announcement. A link to the announcement can be found by clicking here. USDA Announces Key Information to Help Rural Lenders Apply for Programs Under the OneRD Guarantee Loan Initiative in Fiscal Year 2024 WASHINGTON, July 5, 2023 – U.S. Department of Agriculture (USDA) Rural…
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…