The latest information on funding availability for HUD-subsidized Section 202 housing. This section also provides updates and information on regulatory guidance and legislative advocacy around housing finance, refinancing and preservation.
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The U.S. Department of Housing and Urban Development (HUD) issued a notice that explains how and when owners who find themselves with properties that are perhaps beyond repair, or for other reasons not suitable for continued Section 8 subsidy assistance may transfer the Section 8 contract, or a part of the contract, to another more suitable property.
On September 18, the U.S. Department of Housing and Urban Development (HUD) issued a memo providing guidance on combining Section 8 Housing Assistance Payment (HAP) contracts by mutual agreement between the owner and HUD. This option is of particular relevance to owners who are refinancing.
On Sept. 23, the U.S. Department of Agriculture (USDA) published a Notice of Funding Availability for the Multi-Family Housing Preservation and Revitalization Demonstration program.
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 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.