HUD

Love Funding announced the closing of a $13.6 million refinancing loan for Sunset Normandie Towers, a 148-unit Section 8 senior living facility in Los Angeles, California.

Ginnie Mae announced that effective June 1, 2015, USDA Section 538 Multifamily loans with a maximum loan amount of 70% of total development costs will be eligible for pooling into Ginnie Mae mortgage-backed securities (MBS). This is an increase from the previously allowable maximum loan amount of 50% of the total development costs.

U.S. Department of Housing and Urban Development (HUD) released recently a draft form of an updated Multifamily Accelerated Processing (MAP) Guide. The agency is inviting stakeholders to provide feedback until May 14, 2015.

The U.S. Environmental Protection Agency’s WaterSense program is launching Water Wednesdays. The project intends to help HUD project officers and HUD grantees incorporate water efficiency into their programs and projects.

The U.S. Department of Housing and Urban Development (HUD) released the 2009-2011 National Rental Dynamics Report, which uses the longitudinal features of the American Housing Survey to track changes in rental housing affordability. The report examines how recent changes in affordability fit into the trajectory of the rental housing stock over the course of the recession and recovery.

The House Financial Services Subcommittee on Housing and Insurance held a hearing on private sector involvement in affordable housing. The hearing focused on opportunities to leverage large private sector investments, including the HUD Rental Assistance Demonstration program and the low-income housing tax credit (LIHTC).

The Multifamily Housing Office at the Department of Housing and Urban Development offered clarifications of the policy surrounding its interest rate reductions (IRR), particularly for the Section 202 and 223(f) programs.

The U.S. Department of Housing and Urban Development has begun issuing awards to applicants that were previously on the RAD first component waiting list. In response to questions from new awardees, HUD released several clarifications.

NH&RA signed on the Housing Assistance Council’s campaign to encourage appropriators in Congress to support the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Program.

Market analysts and industry peers gathered for the NCHMA Spring Meeting to discuss ways to streamline and improve U.S Department of Housing and Urban Development (HUD) and LIHTC underwriting market analysis. Participants also considered ways market analysts could collaborate better with industry partners and clients.

Ed Golding, a former senior adviser in U.S. Department of Housing and Urban Development’s Office of Policy and Development of Research, replaced Biniam Gebre as head of the Federal Housing Administration.

Starting April 30, 2015, the U.S. Department of Housing and Urban Development Secretary will have the authority to approve requests to transfer project-based rental assistance, debt held or insured by the Secretary, and statutorily required income-based use restrictions from one multifamily housing project to another (or between several such projects).