On April 14, the HUD office of Multifamily Housing Programs updated its Q&A for COVID-19, which contains information about forbearance, Section 223(f)’s, and move-in and vacancies.
HUD also published two mortgagee letters on Section 223(f) Underwriting Mitigants for Multifamily Housing Projects due to Economic Impact of COVID-19 Emergency and Implementation of the Coronavirus Aid, Relief and Economic Security (CARES) Act Forbearance.
On Monday, the U.S. Supreme Court heard oral arguments in City of Grants Pass, Oregon v. Johnson.
HUD announced an increase in deductibles for wind and named insurance coverage for multifamily properties financed with FHA-insured mortgages as a measure to address rising wind and storm insurance costs in recent years with extreme weather events expected to continue.
The Environmental Protection Agency (EPA) awarded grants under the $7 billion Solar for All program, which will create or expand existing low-income solar programs.
The decoupling of rental assistance from Section 514/515 loans under the Consolidated Appropriations Act of 2024 will now permit properties with Section 514/515 maturing mortgages to continue to receive rental assistance to further preserve affordable housing. A stakeholder engagement session is being held on April 25 at 2 p.m. ET and those interested in participating are encouraged to register.