HUD recently issued the following memo regarding a new series of initiatives to support affordable housing production and financing. These initiatives include operational changes and clarifications of existing policies, as well as the Multifamily Accelerated Processing (MAP) Guide. The areas addressed by this memo are all a function of clarifying existing guidance and will be reflected in the revised MAP Guide.
The Department has made three changes to support development, including:
· A single underwriter model
· Dedicated RAD Teams; and
· An expansion of a financing pilot program
To view this memo, please click here