Recent News
The U.S. Department of Housing and Urban Development’s (HUD’s) Office of Multifamily Housing published a mortgagee letter Wednesday moving all of its Multifamily Accelerated Processing (MAP) lenders to an electronic application submission process. FHA Catalyst: Multifamily Applications Module will take effect Dec. 10 for all electronic MAP submissions. Mailed hard copies, USB drives or emailed cloud-storage service links will no longer be accepted or required as of that date.
The U.S. Department of Housing and Urban Development (HUD) announced today in a press release the allocation of more than $2 billion in Community Development Block Grant-Disaster Recovery (CDBG-DR) and Community Development Block Grant-Mitigation (CDBG-MIT) funds.
President Joe Biden today announced the Build Back Better framework to guide the drafting of reconciliation legislation. Bill text introduced today in the House Rules Committee details the $1.75 trillion spending proposal.
Of the $1.75 trillion, $150 billion would be set aside for housing and community development spending, including funding for rental assistance, preserving public housing and the national Housing Trust Fund (HTF). The framework also includes $555 billion for clean energy tax and spending proposals, of which $320 billion are for tax proposals, about $50 billion more than the House Ways and Means version of the reconciliation package.
Research by Novogradac shows that 2023 income limits calculated by the U.S. Department of Housing and Urban Development (HUD) will be on average 3.5% lower if calculated using the five-year American Community Survey (ACS) data than they would be under one-year ACS data. The U.S. Census Bureau recently announced it will not release a 2020 one-year ACS due to data collection issues, which could result in HUD using the five-year ACS data instead of the one-year ACS data to calculate 2023 income limits.
The U.S. Department of Housing and Urban Development (HUD), the Office of the Assistant Secretary of Public and Indian Housing, and the Office of the Assistant Secretary for Housing-Federal Housing Commissioner will issue in Thursday’s Federal Register an interim final rule extending the time period housing providers give tenants facing eviction for nonpayment of rent due to complications arising from the COVID-19 pandemic for project-based rental assistance (PBRA) programs. The rule extends the lease termination period for such tenants to at least 30 days following notification for those using Section 8, Section 8 Moderate Rehabilitation, Section 202/162 Project Assistance Contract, Section 202 Project Rental Assistance Contract (PRAC), Section 811 PRAC, Section 236 Rental Housing Assistance Program and Rent Supplement.
