Industry News

State News & QAP Updates

QAP updates and other state news from Arizona, Colorado, Florida, Louisiana, Minnesota, New Mexico, Tennessee, and Texas.

HUD and Enterprise Prepare Multifamily Housing for Emergencies

HUD and Enterprise released the Ready to Respond: Disaster Staffing Toolkit, which guides affordable housing organizations through the process of building an emergency plan that ensures business continuity, engages residents, and protects properties.

HUD Changes Approval Process for MAP, Section 232 Delegated Underwriters

HUD is trying to reduce the time it takes to approve underwriters for Multifamily Accelerated Processing (MAP) and Section 232 lenders. Instead of getting written approval for each underwriter, MAP and Section 232 lenders will now designate a qualified individual as “Chief Underwriter,” and work with this person to designate and approve MAP and/or Section 232 underwriters on staff.

Member News

CREA Hires Richard Shea as SVP of Acquisitions

City Real Estate Advisors, Inc. (CREA) announced that Richard Shea has joined the organization as senior vice president of acquisitions. Shea will be responsible for identifying, structuring and closing affordable housing equity opportunities throughout the California.

Love Funding Closes $14.3 Million Loan to Rehabilitate Senior Apartment Community in Sparkill, New York

Love Funding announced the closing of a $14.3 million loan to rehabilitate Thorpe Village, a senior apartment community in Sparkill, New York. The property consists of 200 age-restricted units, of which 198 are covered by a Section 8 contract.

Novogradac & Company LLP Named A “Best of Best” Firm by Inside Public Accounting

Novogradac & Company LLP has been named to INSIDE Public Accounting’s (IPA’s) list of “Best of the Best Firms” for the 13th time. The national firm was also named one of the 50 largest accounting firms for 2015.

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