On Sept. 23, the U.S. Department of Housing and Urban Development (HUD) announced the award of 39 new Service
Coordinator grants totaling nearly $7.5 million. These grant awards have long been anticipated, as the applications were submitted in October of 2013 -- and that was already on a very delayed schedule. Also, a new listserv for service coordinators has also been created by HUD.
On March 25, the U.S. Court of Appeals for the Federal Circuit ruled against the U.S. Department of Housing and Urban Development (HUD) in the lawsuit on the performance-based contract administration (PBCA) case. In June, HUD submitted a request for a rehearing. In August, the court denied HUD's request for rehearing.
The second wave of MFT has started in the following offices: Chicago, Minneapolis, Detroit, Columbus, Cleveland, Indianapolis, and Milwaukee. These offices will bestreamlined into one Midwest Region, with Chicago serving as the Regional Center and Minneapolis and Detroit serving as the Regional Satellite Offices. Asset Management will continue to operate in the remaining field offices.
On Sept 4, the U.S. Department of Housing and Urban Development (HUD) published housing notice H 2014-13 Revisions to Large Loan Risk Mitigation Policies, which revises large loans policy. This notice supersedes Notice H 2011-36 and Notice H 2014-03 providing HUD's underwriting standards for large multifamily loans above $25 million and/or which support projects exceeding unit thresholds.
PrezCat, a new online tool, allows affordable housing preservation stakeholders to search affordable housing preservation policies and programs and to identify data sources that are most relevant to their localized short and long-term needs.