A recent memo from HUD that provides guidance on Housing Notice H 2013-17 is now available on the NAHMA website on the HUD page, under the Section 202/811 section. This housing notice details the updated requirements for the prepayment and refinance of Section 202 direct loans. The Department has received feedback on the notice from the affordable housing industry and HUD plans on a revision and updated notice as soon as possible.
In the meantime, this document will provide guidance on the implementation of H 2013-17 in regards to: the developer fee, the use of loan proceeds, and the grandfathering procedures under the notice.
You may view the guidance document by following this link: Guidance on Housing Notice 2013-17