News
Report Reveals Major Economic Impact of Historic Tax Credit
The historic tax credit helped created 78,000 jobs and $3.4 billion income during FY 2014, according to a report from the National Park Service and Rutgers University Edward J. Bloustein School of Planning and Public Policy.
HUD Changes Flat Rent Requirements for PHAs
Public housing authorities (PHAs) have more flexibility when setting flat rents that are based on fair market rents (FMR), following HUD’s interim rule PIH-2015-13, which was published September 8, 2015.
Freddie Mac Offers Green Rebate for Multifamily Borrowers Who Provide Energy Star Score
Freddie Mac Multifamily is encouraging energy efficiency and affordability in apartment properties and strengthening the market for green investments by offering a Green Rebate to borrowers on qualified property loans who voluntarily provide an ENERGY STAR® score with their loan documents.
Frequently Asked Questions: Methodology for Completing a Multifamily Housing Utility Analysis
FAQs pertaining to the implementation of H 2015-04 (June 22, 2015), which governs methodologies for completing multifamily housing utility allowance analysis. Download
MHIC Closes Financing for New 20-Unit Affordable Housing Project in Cambridge, Mass.
Massachusetts Housing Investment Corporation announced closing of a $3.6 million low-income housing tax credit investment for new construction of affordable rental housing in Cambridge, Mass.
MassHousing Closes $15.6M in Financing to Preserve 72 Units of Affordable Housing
The Community Builders is using $15.6 million in MassHousing financing to renovate a property in Lincoln, MA, that includes 72 apartments that are affordable to lower-income families through the LIHTC program.
HUD and Enterprise Prepare Multifamily Housing for Emergencies
HUD and Enterprise released the Ready to Respond: Disaster Staffing Toolkit, which guides affordable housing organizations through the process of building an emergency plan that ensures business continuity, engages residents, and protects properties.
HUD Changes Approval Process for MAP, Section 232 Delegated Underwriters
HUD is trying to reduce the time it takes to approve underwriters for Multifamily Accelerated Processing (MAP) and Section 232 lenders. Instead of getting written approval for each underwriter, MAP and Section 232 lenders will now designate a qualified individual as “Chief Underwriter,” and work with this person to designate and approve MAP and/or Section 232 underwriters on staff.
FHFA Establishes 2015-17 Housing Goals for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency is required to set annual housing goals for mortgages purchased by Freddie Mac and Fannie Mae. FHFA established the 2015-17 goals in a final rule.
HUD Publishes Revised FAQs on HOME and Housing Trust Fund
HUD has published new HOME Investment Partnerships Program (HOME) Frequently Asked Questions (FAQs) and a revised National Housing Trust Fund (HTF) Program FAQ.
New HUD Rule on Previous Participation Reviews Aims to Streamline Process
HUD proposed a new way to conduct previous participation reviews of prospective multifamily housing and healthcare program participants. The recently proposed rule aims to clarify and simplify the process by which HUD reviews the previous participation of participants.
HUD Multifamily Completes Transformation in Southeast Region
The HUD Office of Multifamily Southeast Region is now operating under HUD’s new model of consolidated, regional offices. The Regional Center in Atlanta and Regional Satellite Office in Jacksonville hosted kick-off events in celebration of the launch.