Housing Plus

Housing Plus

Guidance and legal insight for all aspects of housing and community development

By the Housing Group at Ballard Spahr

Category Archives: FHA-Insured Financing

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Ballard Spahr and CSG Advisors Host Another Informative Western Housing Conference

Posted in Budget, FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing, Legislative Initiatives, Policy, Public Housing, RAD, Tax Credits
Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals facilitating a dynamic conversation on current developments in government-assisted housing. The Conference opened with a “Washington Update” – a discussion on housing policy… Continue Reading

HUD proposes Processing Guide for 2530/Previous Participation reviews; comments due June 16th

Posted in FHA-Insured Financing, Government-Assisted Housing, Policy, Uncategorized
On May 17, 2016, HUD published a notice in the Federal Register to announce the issuance of the “Processing Guide for Previous Participation Reviews of Prospective Multifamily Housing and Healthcare Programs’ Participants” (the “Processing Guide”). A copy of the Processing Guide can be accessed here. HUD proposes that the Processing Guide be used to supplement the proposed rule published in August that announced… Continue Reading

Requirements schedule for closing RAD transactions in CY 2015

Posted in FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, Public Housing, RAD
For efficient closing of RAD transactions by December 31, 2015, public housing authorities and developers should remain mindful of the Office of Recapitalization’s recently released processing deadlines. Planning ahead and incorporating the following issuance dates into operating schedules will help ensure your projects advance in a timely manner: Upload all required Financing Plan documents no… Continue Reading

Affordable, small, and manufactured housing loans prioritized as GSEs approach volume caps

Posted in FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing
The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have announced that they are quickly approaching their 2015 volume caps. In January of this year, the Federal Housing Finance Agency (FHFA), who regulates these agencies, released its 2015 scorecard which detailed 2014 activities and outlined 2015 priorities for the agencies.  The scorecard retained the volume… Continue Reading

HUD announces proposed rule implementing expanded Violence Against Women Act protections

Posted in FHA-Insured Financing, Government-Assisted Housing, Low Income Housing Tax Credits, Public Housing, Section 8
Last week, HUD has announced a proposed rule to implement protections arising under the Violence Against Women Reauthorization Act of 2103 (VAWA).  The reauthorization added a number of programs covered by VAWA, including: HOME Investment Partnerships program for rental housing; Section 202 supportive housing for the elderly; Section 236 Rental Program; Section 811 supportive housing for people… Continue Reading

The RAD cap is increased — now what?

Posted in FHA-Insured Financing, Government-Assisted Housing, RAD, Section 8
Before a robust crowd at the recent Best of the West in Affordable Housing Development and Finance conference sponsored by Ballard Spahr and CSG Advisors in San Francisco, the value and evolution of the U.S. Department of Housing and Urban Development (HUD) Rental Assistance Demonstration (RAD) program was a common point of discussion among panelists.… Continue Reading

Please join us for the fifth annual Western Housing Conference

Posted in Budget, Community Development, Enforcement, Fair Housing, FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing, Housing Bonds, Legislative Initiatives, Multifamily, Policy, Public Housing, RAD, Section 8, Single-Family, Tax Credits, Tax Reform, Tax-Exempt Bonds
Several exciting developments have recently brought changes to the affordable housing industry and we are inviting you to explore them with us at our fifth annual Western Housing Conference. Ballard Spahr and CSG Advisors are pleased to announce this year’s Best of the West in Affordable Housing Development and Financing conference on March 13, in… Continue Reading

HUD RAD team conducts focus group sessions with stakeholders

Posted in FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing, Public Housing, RAD, Section 8
Today, HUD hosted a focus group of nearly a dozen key stakeholders to gain insights about the RAD process.  I had the opportunity to participate in the sessions along with housing authority representatives, lenders, investors, private developers, financial advisors and other consultants.  Discussion questions explored issues extending from the RAD application process through to post-closing… Continue Reading

HUD continues reorganization of key leadership

Posted in FHA and GSE Financing, FHA-Insured Financing, RAD
As part of its efforts towards continued reorganization, the U.S. Department of Housing and Urban Development (HUD) has recently announced changes to the Office of Multifamily Housing leadership staff.   Mark Van Kirk, the Director of Asset Management, and Margaret Salazar, Director of the Office of Affordable Housing Preservation (OAHP) will each be stepping down from… Continue Reading

HUD announces RAD changes at the RAD Network Training

Posted in FHA-Insured Financing, Government-Assisted Housing, Low Income Housing Tax Credits, RAD
HUD hosted the RAD Network Training on June 4th and 5th with a crowd in attendance that exceeded HUD’s expectations.  The two day series of panel presentations spanned a range of topics with insights shared by HUD staff and housing authority representatives.  It was evident that HUD is focused on making RAD work more efficiently… Continue Reading

HUD adopts updated standard for Phase I Environmental Site Assessments

Posted in FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing
HUD’s Office of Housing and the Federal Housing Administration’s adoption of a new technical standard for conducting Phase I Environmental Site Assessments (“Phase I ESA”) took effect on May 16, 2014.  Participants in Office of Housing/FHA programs, funding recipients, FHA-insured mortgagees, and contractors must now use ASTM International’s technical standard ASTM E 1527-13 (“the 2013… Continue Reading

Insights shared during the Ballard Spahr webinar on RAD

Posted in FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, RAD
On May 15th, Ballard Spahr hosted the webinar, “HUD’s RAD Program: Lessons Learned So Far”.  The panel included HUD representatives Greg Byrne and Kathie Soroka, Ivy Dench-Carter from Pennrose Properties, a private developer and property manager, Peter Engel from the Housing Authority of Baltimore City, and Amy McClain and Rania Arja, Ballard Spahr attorneys who represent lenders,… Continue Reading

FHA loan incentives for “Communities of Opportunity” in the Baltimore region

Posted in Fair Housing, FHA and GSE Financing, FHA-Insured Financing, Section 8
Under HUD’s “Affirmatively Furthering Fair Housing” demonstration program, developers working in the Baltimore region may now have the opportunity to receive favorable FHA financing terms by setting aside a portion of the units in their newly constructed or rehabilitated housing projects for families holding Section 8 Housing Choice Vouchers.  The  incentives, available for the 221(d)(4)… Continue Reading

HUD seeks more limited denials of participation for multifamily borrowers

Posted in Enforcement, FHA-Insured Financing
Last week, HUD’s Office of Multifamily Housing issued a new notice explaining the procedures its field leadership should use in initiating proceedings to disqualify FHA-insured multifamily borrowers, including the principals of borrower entities, from program participation using Limited Denials of Participation (LDPs). The procedures are intended to comply with current HUD regulations for issuance of… Continue Reading