Please note HUD’s latest Capital Needs Assessment (CNA) bulletin with technical updates to Known Issues and Solutions, revised HUD RfR Financial Factors Tool, training for PRAC owners and more:
- A revised “Known Issues and Solutions 1-23-2018” document has been posted. The revision adds a new Section 3.4 beginning at page 11. The new section explains and provides a fix for the calendar year change error. Financial schedules obtained from 2018 validations of CNAs prepared in 2017 showed different results than the same CNA validated before the New Year. This document can be found at here.
- A revised “HUD RfR Financial Factors Tool v 2.0, 1.17.2018” is available here and on the HUDCLIPS page for the 2016 MAP Guide, replacing Version 1.0. The new tool is paired with the Financial Schedule produced by the CNA e-Tool and accommodates the requirement for CNAs submitted with applications for HUD FHA-insured mortgages. Accordingly, the new Tool relies on importing or “cutting and pasting” Financial Schedule results from the CNA e-Tool.
Unlike Version 1.0, this version does not need to be attached to a CNA at submission and lenders are not required to use Version 2.0. However, HUD Reviewers will use Version 2.0 to verify that submitted CNAs have financial schedules that meet the minimum requirements for funding as described in the 2016 MAP Guide (Appendix 5G Section VII, C.3. Note that VII.C.3.d(5) requiring lenders to submit a spreadsheet proof is no longer necessary). Nonetheless, lenders may wish to verify their results using the new Tool prior to submission of a CNA. The HUD RfR Financial Factors Tool is used to underwrite the adequacy of planned Reserve for Replacement (RfR) deposits in applications for HUD-FHA mortgage insurance.
- The CNA e-Tool recently experienced several service outages or slowdowns and at least one false error message. Corrections have or are being made. Among the false error messages some have experienced is the following:
Click “ok” and this message will disappear without consequence.
We apologize for any inconvenience or frustration users may have experienced due to a slow or unresponsive validation effort. After these initial bugs from the infrastructure upgrade, speed and performance should be improved.
- The instructional materials used in the “hands on the keys” in-person trainings conducted from September – November 2017 for lenders and needs assessors have been posted to the HUD Exchange.
- HUD will be providing a webinar training on Thursday, February 8 at 2 pm EST for Project Rental Assistance Contracts (PRAC) owners. You may register for this webinar here.
- The January 18, 2018 webinar “Q&A on Implementing HUDs CNA e-Tool for Non-FHA Rental Assistance Demonstration (RAD) Transactions” has been posted here.
- A new training module has been posted here to assist users with federal accessibility regulations. All of the training modules have been posted here.
More information on the CNA eTool is available online here. Thanks,