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 29, 2023 must have fully executed conditional commitments / letters of conditions, and all outstanding information and documentation submitted to P2, on or before Friday, October 6, 2023. This includes having fully approved third-party reports and construction documents.
Multifamily Housing is setting this deadline to prioritize its resources to assist customers with critical, time-sensitive calendar year-end deadlines. A closing prior to calendar year-end is not guaranteed and will depend on timeliness and completeness of responses and any modifications to the transaction. The P2 Division will ask applicants to communicate critical deadlines and closing dates for transactions. P2 will also continue to transparently communicate processing timeframes with our lending partners, so that execution expectations can be managed.
For applicants that are not able to meet the October 6th deadline, P2 will work to coordinate and establish a target closing date that will be after January 1, 2024.
Questions or concerns about an application’s status must be communicated to the P2 specialist assigned to the transaction. Additional contact information can be found on the Multifamily Organizational Chart.
For additional information, please contact the Multifamily Housing Production & Preservation Program Support Branch at MFH.ProgramSupport@usda.gov.
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Thank you,
Daniel J. Rogers
Director, Production & Preservation Division
Multifamily Housing | Rural Development
United States Department of Agriculture