HUD

HUD has released its U.S. Housing Market Conditions 1st Quarter 2012 Preview.

On May 14, HUD published Housing Notice 2012-10, entitled “Guidelines for Assumption, Subordination, or Assignment of Mark-to-Market (M2M) Loans in Transfer of Physical Assets (TPA) and Refinance Transactions.”

A group of national trade organizations representing organizations involved in the development, construction, ownership, and management of market rate and affordable multifamily rental housing and health care facilities sent a letter to HUD regarding the agency’s recent increase of mortgage insurance premiums (MIPs) for certain FHA multifamily housing, health care facilities, and hospital mortgage insurance programs for commitments to be issued or reissued in FY2013.

The U.S. Department of Housing and Urban Development has issued Mortgagee Letter 2012-8 that sets forth HUD’s policy for defining the indebtedness eligible for refinancing in connection with healthcare (Sections 232 and 242) projects, and in connection with multifamily projects to include interest rate swap termination fees.

HUD recently published Notice H 2012-8, which provides guidance for the pre-payment and refinancing of Section 202 Direct Loan projects, and supersedes all outstanding policy regarding Section 202 Direct Loan pre-payments.

HUD recently issued Notice PIH 12-20 which retracts a former notice, PIH Notice 12-19 titled “Implementation of Funding for Tenant-Protection Vouchers for Certain At- Risk Households in Low-Vacancy Areas”.

The Senate Appropriations Committee on April 19 approved the Transportation, Housing and Urban Development (THUD) Subcommittee’s fiscal year (FY) 2013 appropriations bill. The bill proposes to fund the Department of Housing and Urban Development (HUD) programs at $46.16 billion, an increase of $1.4 billion above the President’s FY 2013 request and $2.4 billion more than the FY 2012 enacted budget amount.

NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.

In recently released Notice H 2012-5, HUD provides guidance to Owners, Management Agents and residents of HUD Multifamily insured and assisted properties to stress the importance of prevention, identification, and treatment of infestations in rental housing.

HUD has posted a new report on its HUD USER website entitled, “Housing Units that Serve Both the Renter and Owner Markets.”

HUD has announced that Mr. Kerry Hickman has been selected for the position of Director, Office of Housing Assistance and Contract Administration Oversight (OHACAO).

The Ohio Housing Finance Agency (OHFA) has released its Community Housing Development Organization (CHDO) Certification Application for the year July 1, 2012 through June 30, 2013.