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Thursday, March 31, 2011 - 1:15AM

The U.S. Department of Housing and Urban Development (HUD) yesterday announced that the Office of Asset Management approved a blanket 30-day extension for Financial Assessment Subsystem (FASS) submissions of audited financial statements in the Real Estate Assessment Center (REAC) for multifamily housing property owners with a fiscal year ending December 31, 2010. HUD also announced that the system will be shut down for maintenance at 8 p.m. (EDT) on Friday, April 29, 2011; it is widely believed that submissions entered after the system reopens on May 2 will be deemed late.

For questions about this REAC deadline extension, please call Susan Wilson, CPA, at (512) 340-0420 x115 or email her at [email protected].

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