Multi-Family Finance

HUD

Choice Neighborhoods Implementations Grant Application Due Feb. 15

Multifamily communities can work with local governments to apply for the 2021 Choice Neighborhoods Implementation Grant Notice of Funding Opportunity.

HUD

HUD Posts Annual Adjustment in FHA Statutory Mortgage Limits, List of High Cost Areas for 2021

The Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs; Annual Indexing of Substantial Rehabilitation Threshold Notice was published in the Federal Register on September 9.

Member News

Align Closes on $15 Million Refinance

Align Finance Partners announced the closing of the $15 million refinance of Parkwood Apartments, a 55-unit, affordable multifamily property located in Santa Rosa, CA. The transaction, sponsored by Burbank Housing Development Corporation, utilized 501(c)(3) bonds, the company said.

HUD

HUD Updates Multifamily Guidance

HUD updated its Multifamily Q&A for COVID-19 on July 29. The updated questions and answers pertain to which payments are to be included in tenant income calculations for HUD-assisted Multifamily housing and the Child Tax Credit.

HUD

No Further AFS Blanket Extensions from HUD

HUD’s Office of Multifamily Housing does not plan to offer a further blanket extension for annual financial statement (AFS) submissions for properties beyond the current extension through June 30, 2021.

HUD

TRACS Forum Implementation – May 17, 2021

HUD’s Office of Multifamily Housing Programs (MFH) is re-establishing the Tenant Rental Assistance Certification System (TRACS) Forum to encourage information exchange between property owners and agents, contract administrators, state housing finance agencies, housing and community development researchers, academics, policymakers and affordable housing practitioners.

HUD

HUD Updates Multifamily Q&A for COVID-19

HUD’s Office of Housing and the Federal Housing Administration (FHA) posted an updated Multifamily Q&A for COVID-19 as of April 2. To find new or revised answers in the PDF, you can search the date 4/2/21.

HUD

HUD Publishes FHA-HFA Multifamily Risk-Sharing Final Rule

HUD published its final rule amending existing regulations for the Section 542(c) Housing Finance Agencies (HFA) Risk-Sharing Program. The final rule adopts without substantive changes the March 8, 2016, proposed rule. The rule is intended to better align the Risk-Sharing program regulations with current industry and HUD policies and practices and provide greater flexibility for […]

Connecticut

Connecticut Extends COVID-19 Financial Relief Available for Multifamily Borrowers through End of Year

The Connecticut Housing Finance Agency (CHFA) extended the COVID-19 multifamily financial relief period through December 31, 2020. Any mortgagor of a multifamily rental housing development in CHFA’s portfolio experiencing financial distress due to COVID-19, beyond the financial ability of the mortgagor to correct or mitigate, may contact CHFA to request its assistance. For more information, […]

HUD

HUD Publishes Housing Notice Extending Moratorium on Evictions for HUD Mortgages in Forbearance

On July 1, 2020, HUD published Housing Notice (2020-7), Coronavirus Aid, Relief, and Economic Security (CARES) Act Eviction Moratorium that extends the moratorium on evictions for all HUD-insured or HUD-held mortgages while under forbearance, and also provides guidance on tenant protections for multifamily properties not subject to forbearance and those with HUD-assisted units.

Washington

In the News: Developers Converting Dying Malls to Apartments

On June 30, City Lab published an article on how developer Avalon Bay is converting a portion of the 41-year-old Alderwood Mall outside of Seattle into housing.

HUD

HUD Updates Basic Statutory Mortgage Limits for Multifamily Housing Programs

HUD published a Federal Register notice adjusting the Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs. The percentage change in the consumer price index for all urban consumers (CPI-U) is 2.3 percent and the limits have an effective date of January 1, 2020.

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