The U.S. Department of Agriculture’s Rural Housing Service (RHS) Office of Multifamily Housing announced a proposed rule that would update the insurance coverage and deductible requirements that have been in place since 2004 for its multifamily direct loan and grant programs. The proposed rule would update dollar value amounts, align RHS programs with affordable housing industry standards and insurance industry trends, establish higher deductible limits, and provide flexibility to owners to select deductibles that can lower their premium costs. USDA is accepting comments on the proposed rule through December 26.
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