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HUD EXPANDS MULTIFAMILY LIHTC PILOT PROGRAM

Thursday, September 27, 2012 - 7:00AM

The U.S. Department of Housing and Urban Development’s (HUD’s) Office of Housing announced a nationwide expansion of the Multifamily Low-Income Housing Tax Credit (LIHTC) Pilot program, which is designed to test streamlined approval processes for the purchase or refinancing of LIHTC properties. Offices in Atlanta, Denver, Fort Worth, San Francisco and Seattle have joined the four original pilot processing offices in Boston, Chicago, Detroit and Los Angeles. Projects not located in the jurisdictions of the nine pilot processing offices will be assigned to one of those offices for underwriting. HUD also said it plans to begin qualifying additional multifamily accelerated processing lenders this month through a second lender selection process.

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