Federal Housing Agency (FHA)

HUD

FHA Temporarily Implements Direct-to-Firm Commitment Process

HUD’s Office of Production issued temporary, three-month guidance implementing a procedural change to its underwriting queue to improve process efficiency.

senate-seal

Julia Gordon Confirmed as FHA Commissioner

On May 12, the Senate voted 50-50, with Vice President Kamala Harris (D) breaking the tie, to confirm Julia Gordon as commissioner of the Federal Housing Administration (FHA).

HUD

Senate Advances FHA Commissioner Nomination

Yesterday, the Senate voted to discharge the nomination of Julia Gordon to serve as commissioner of the Federal Housing Administration/deputy secretary of HUD’s Office of Housing.

HUD

HUD Revises Base City High Cost Percentage, High Cost Area and Per Unit Substantial Rehabilitation Threshold for 2022

In Mortgagee Letter 2022-05 and Housing Notice 2022-02, HUD increased the substantial rehabilitation for FHA insured loan programs from $15,000 to $16,983 per unit.

HUD

FHA Removes Temporary COVID-19 Underwriting Mitigants for Multifamily 223(f) Transactions

The Federal Housing Administration (FHA) announced that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act effective immediately for all insured transactions that have yet to reach endorsement.

HUD

HUD Eliminates Hard Copies of Closing Document Post-Endorsement

HUD’s Office of Multifamily Housing sent a memo to Federal Housing Administration Multifamily Accelerated Processing lenders eliminating the submission of a hard copy of closing documents, so long as they are identical in every respect as the submission that was provided electronically to HUD.

HUD

FHA Requires Electronic MAP Application Submissions – Dec. 10

The Office of Multifamily Housing published Mortgagee Letter 2021-26, which announces the required use of the FHA Catalyst: Multifamily Applications Module effective Dec. 10, 2021, for all electronic MAP application submissions.

Federal Housing Finance Agency

Fannie, Freddie Each Increase LIHTC Investment by $350 Million; FHA Risk-Share Programs Resume

Last week, the White House released a sweeping set of actions the Biden-Harris administration is taking to increase the supply of affordable housing.

congress-capitol

Senate Holds Nomination Hearing for Gordon, Uejio & Greene – Aug. 5

The Senate Committee on Banking, Housing and Urban Affairs will hold a nomination hearing to consider Julia Gordon to be Federal Housing Administration commissioner and assistant secretary for Housing at HUD at 10 a.m. ET on August 5. NH&RA sent a letter to the committee supporting Gordon’s nomination.

HUD

Forbearance for FHA-Insured, Section 202, HUD-held and Risk Share Multifamily Loans

HUD published Housing Notice 2021-03 Forbearance Relief and Associated Tenant Protections for FHA-Insured, Section 202, HUD-held, and Risk Share Multifamily Loans, which details tenant protections during Multifamily forbearance.

General News

FHA MAP Guide 2020 Training Webinars

FHA will host the following three webinars on its new Multifamily Accelerated Processing (MAP) Guide: January 21 from 2-3:30 p.m. ET: Learn about Chapter Two, Lender Qualifications and Practices paired with Chapter 15, Oversight of MAP Program Requirements; Chapter Three, a general summary of program requirements; Chapter Five, Architectural and Construction Analysis paired with Chapter […]

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