Federal / Agency News
Updated RAD Quick Reference Guide Includes FSS Guidance
HUD updated the Rental Assistance Demonstration program Project-Based Rental Assistance Quick Reference Guide. The updated guide provides information on continuing Family Self Sufficiency (FSS) programs at PBRA properties.
IRS Divides $2.59M of Unused 2015 LIHTCs Among 30 States
The Internal Revenue Service divided $2.59 million in unused Low Income Housing Tax Credits from calendar year 2015 among 30 states.
Due Dates Announced for Closing Mixed-Finance Transactions by End of 2015
HUD Office of Public Housing Investments issued a schedule for processing mixed-finance projects intending to close by the end of the 2015 calendar year.
HUD Answers FAQs on Multifamily Housing Utility Analysis
HUD released answers to frequently asked questions about a recent notice that outlines a new methodology for completing a multifamily housing utility allowance.
Report Reveals Major Economic Impact of Historic Tax Credit
The historic tax credit helped created 78,000 jobs and $3.4 billion income during FY 2014, according to a report from the National Park Service and Rutgers University Edward J. Bloustein School of Planning and Public Policy.
HUD Changes Flat Rent Requirements for PHAs
Public housing authorities (PHAs) have more flexibility when setting flat rents that are based on fair market rents (FMR), following HUD’s interim rule PIH-2015-13, which was published September 8, 2015.
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.
FHFA Establishes 2015-17 Housing Goals for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency is required to set annual housing goals for mortgages purchased by Freddie Mac and Fannie Mae. FHFA established the 2015-17 goals in a final rule.
HUD Publishes Revised FAQs on HOME and Housing Trust Fund
HUD has published new HOME Investment Partnerships Program (HOME) Frequently Asked Questions (FAQs) and a revised National Housing Trust Fund (HTF) Program FAQ.
New HUD Rule on Previous Participation Reviews Aims to Streamline Process
HUD proposed a new way to conduct previous participation reviews of prospective multifamily housing and healthcare program participants. The recently proposed rule aims to clarify and simplify the process by which HUD reviews the previous participation of participants.
HUD Multifamily Completes Transformation in Southeast Region
The HUD Office of Multifamily Southeast Region is now operating under HUD’s new model of consolidated, regional offices. The Regional Center in Atlanta and Regional Satellite Office in Jacksonville hosted kick-off events in celebration of the launch.
IRS Updates LIHTC Audit Technique Guide
The Internal Revenue Service updated the Audit Technique Guide (ATG) for the low-income housing tax credit program. IRS examiners use this guide to audit LIHTC property owners.