This authority applies only to FHA Multifamily Accelerated Processing (MAP) transactions originated under Sections 223(f) and 223(a)(7). Delegation of this task will eliminate the need for HUD approval for each disbursement release and is intended to expedite the non-critical repair escrow release process while maintaining management controls necessary to ensure the repairs are completed in accordance with the terms of the FHA Firm Commitment.

The mortgagee letter may be found on the NAHMA HUD page, under the FHA Multifamily Mortgages section. Please follow this link to view the letter directly.

Revised Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program for FY 2013 are now available on the NAHMA website. This notice updates the FY 2013 FMRs for Cheyenne, WY, and Odessa, TX, based on surveys conducted in September 2012 and for Burlington, VT, Mountrail County, ND, Ward County, ND, and Williams County, ND based on surveys conducted in November 2012. The FY 2013 FMRs for these areas reflect the estimated 40th percentile rent levels trended to April 1, 2013.

To view this document, please click here

FHA and Interest Rates

On April 22, 2013, FHA issued new guidance allowing select properties outside of the lockout period to benefit from historically low interest rates by requesting a rate reduction. Until now, FHA has only considered such requests to avoid possible default. Borrowers with performing loans had to refinance to secure lower rates.

The new guidelines apply to qualifying loans financed though the Section 223(f) or 223(a)(7) programs. They outline the conditions required to secure a rate reduction, the submission requirements and the FHA processing procedures.  Notably, they allow HUD HUB directors to approve requests, eliminating headquarters action and expediting the process.

To view this guidance document, please click here

Detailed guidance on the process to apply for set-aside funding will be provided in a forthcoming PIH Notice. In the interim, this letter informs PHAs of the reasonable cost savings measures that PHAs must undertake in order to be eligible for funding under the insufficient funding category.

This letter also clarifies thatPHAs may not unilaterally reduce the rent to owner in HCV program due to insufficient funding.

You may find a copy of this letter on NAHMA’s Grassroots Action Center, under the Sequestration Grassroots Action Webpage link. Alternatively, you may also visit this link to view the letter directly.

To view this notice, please click here

On April 25, HUD published new guidance clarifying the distinctions between “assistance animals” and “service animals” for purposes of compliance with the Fair Housing Act, and the Americans with Disabilities Act (ADA). Specifically, the notice indicates that the recently amended ADA’s more narrow definition of a “service animal” – “a dog trained to do work or perform tasks,” does not apply when determining compliance with the Fair Housing Act.

To view this guidance document, please click here