Multifamily Housing Partners, Rural Development is monitoring the effects that COVID-19 (Coronavirus) is having on the multifamily housing community and has been providing regular internal guidance to staff on how to answer questions they receive. Although your assigned Servicing Official should remain your primary contact for questions, we would like to provide answers to some…
CARH’S BROADCAST E-MAIL – Member Update As the Novel Coronavirus COVID-19 pandemic continues to spread throughout the country, CARH understands the need to ensure the rural rental housing communities we work to support are not overlooked. CARH members are on the frontline, working with residents who may have lost income or have contracted the virus…
Nancie-Ann Bodell, Deputy Administrator, Rural Housing Service, sent out the following information regarding CARES Act Forbearance Request Guidance: Dear Multifamily Housing Partners, The Coronavirus Aid, Relief, and Economic Security (CARES) Act (Pub. L. 116-136) was signed into law on March 27, 2020. Sections 4023 and 4024 of the CARES Act apply to the Multifamily Direct…
CARH’S BROADCAST E-MAIL – Regulatory Alert Today, the Department of Housing and Urban Development (HUD) released Fiscal Year (FY) 2020 Income Limits. These income limits are effective as of tomorrow, April 1, 2020. Income limits are set by HUD to determine the eligibility of applicants for HUD’s assisted housing programs. Section 8 Fair Market Rent…
March 28, 2020 Nixon Peabody, CARH’s General Counsel, and CARH have been working on Section 515/538 subordination agreement “language.” Below is an update: The CARES Act signed by President Trump Friday provides a residential mortgage forbearance for federally backed loans (section 4023) and a temporary eviction filing moratorium for rent nonpayment (section 4024). That has…
CARH Broadcast Email—Legislative Update Early on Thursday, March 26, the Senate, by a vote of 96-0, passed H.R. 748, the CARES Act, which totals $2 trillion and provides significant expansions in small business lending, unemployment insurance, tax relief to individuals and employers, healthcare measures, $500 billion in economic stabilization funds, $274 billion in emergency appropriations,…
CARH’s General Counsel, Nixon Peabody, issued a Affordable Housing Alert, entitled, Update 2.0: New HUD FAQ extends guidance on property management, recertification, and HUD closing issues.
HUD’s Office of Multifamily Housing sent out the following announcement: Dear Multifamily Asset Management Stakeholders: Please join Deputy Assistant Secretary Lamar Seats for a call on Thursday March 26, from 2:30-3:30 p.m., ET to address Multifamily Asset Management’s COVID-19 response. We have updated the Q&A for COVID-19 with new guidance. Please visit our multifamily website…
CARH’s General Counsel, Nixon Peabody, issued a Tax and Employment Alert, entitled, IRS, Treasury and Labor issue first guidance on the Families First Coronavirus Response Act.
CARH’S BROADCAST EMAIL – MEMBER UPDATE For 40 years, CARH has worked diligently for and with the rural rental housing industry. As the Novel Coronavirus COVID-19 pandemic spreads through different areas of our country, we understand the need to ensure the rural rental housing communities we work to support are not overlooked. Our staff and…