HUD Releases Letter to Respond to Questions on Mark to Market Properties

Friday, March 5, 2004 - 1:45AM

In response to questions from owners and accountants of Mark to Market-restructured properties, and in anticipation of owners submitting their Annual Financial Statements (AFS) in the coming weeks (for projects with fiscal year ending December 31), the U.S. Department of Housing and Urban Development (HUD) Office of Multifamily Housing Assistance Restructuring (OMHAR) released a letter for the owners of all closed Mark to Market projects. The letter addresses the most common accounting questions for these properties, and the most common errors in last year’s filings. Click here for a copy of the letter.

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