HUD: Proposed “30-Day Notice” Rule for Nonpayment of Rent Announced
Proposed rule would provide residents of public housing or in properties receiving project-based rental assistance 30 days notice to cure lease violations for nonpayment of rent The U.S. Department of Housing and Urban Development (HUD) will publish a Notice of Proposed Rulemaking in the Federal Register on Friday, December 1. If finalized, the rule would…
FHFA: 2024 Multifamily Loan Purchase Caps Announced for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) announced today that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily market. To ensure a strong focus on affordable housing and underserved markets, FHFA will…
HUD: $212 Million Funding Opportunity Announced to Expand Affordable Housing Options for Persons with Disabilities
Funding provides capital to produce new or rehabilitate existing housing along with project rental assistance to support very-low and extremely low income-persons with disabilities The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing announced today that $212 million in funding is available to expand the supply of affordable housing and supportive services…
HUD: $160.1 Million in Grants Awarded to Create and Preserve Affordable Housing for Low-Income Seniors
Funding supports the creation and rehabilitation of affordable multifamily rental housing and project-based rental assistance to help provide independent living options for low-income seniors The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced today that it has awarded $160.1 million in grants to non-profit organizations across the country to…
HUD: Funding Announced to Support Energy Efficiency and Climate Resilience in Multifamily Assisted Housing Properites
Initial awards of $18 million under the Green and Resilient Retrofit Program will support upgrades that advance energy efficiency and climate resilience in rental homes for low-income families. As part of President Biden’s Investing in America agenda, the U.S. Department of Housing and Urban Development (HUD) today announced it has awarded approximately $18 million in…
HUD: Updated Public & Assisted Housing Guidance Published for Treatment of Solar Program for Residents
Updates support expanded use of solar program benefits for assisted housing residents as a result of the Inflation Reduction Act. The U.S. Department of Housing and Urban Development (HUD) published today updated guidance for Public Housing Authorities (PHAs) and owners of properties participating in HUD Multifamily Assisted Housing programs regarding the treatment of financial benefits…
HUD: Public Housing Inspections to Begin Under New Rule to Strengthen Inspection Standards in HUD-Assisted and Insured Housing
NSPIRE Final Rule Effective July 1 for Public Housing, October 1 for remaining HUD Rental Assistance Programs As of July 1, the U.S. Department of Housing and Urban Development (HUD) has the authority to begin inspecting public housing under the Final Rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE) after…
HUD: FHA Increases Dollar Amount Threshold for Large Multifamily Loans to Be Eligible for Standard Underwriting
Change facilitates greater flexibility for lenders when underwriting Multifamily transactions up to $120 million. The Federal Housing Administration (FHA) today published a Mortgagee Letter that increases the threshold at which a Multifamily loan is considered a Large Loan from $75 million to $120 million. This is the first increase in the threshold since 2014 and will enable…
FHFA: Input Requested on Multifamily Tenant Protections
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises). Through their role as secondary market participants in the multifamily housing market, the Enterprises have a public mission to support the availability of safe, decent…
HUD: More Than $837 Million Announced to Improve Housing Quality and Reduce Energy Costs for Underserved Communities
New funding from Inflation Reduction Act of 2022 and $4 billion in loan commitment authority will make HUD-assisted multifamily housing more energy efficient, cut greenhouse gas emissions, and improve climate resiliency. The U.S. Department of Housing and Urban Development (HUD) today will announce the availability of new funding through the Green and Resilient Retrofit Program (GRRP) to…