The U.S. Department of Housing and Urban Development (HUD) has published a draft Mortgagee Letter with revised requirements for Project Capital Needs Assessment (PCNA), Estimated Reserves for Replacements and Remedies for Accessibility Deficiencies. The revised requirements would apply to all applications for mortgage insurance under the FHA Multifamily Housing programs, to all 10-year PCNA updates for existing insured properties, and to all PCNAs required by the Office of Multifamily Housing except those required for restructuring of assisted housing projects under the Market-to-Market program.
Click here to read the revised requirements.
