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Multifamily Transformation on Hold

Last year, the Office of Multifamily Housing Programs publicly announced a plan to better deliver on its mission by modernizing its business model. On April 1, 2014, Congress endorsed all aspects of this transformation with one exception involving Asset Management.

For now, Asset Management employees will remain in their current locations. Congress directed that Asset Management employees should not consolidate but instead, should continue to serve in all existing Multifamily Housing offices. This modification does not alter HUD’s plan for reorganizing to a five-region structure, consolidating Production and Operations employees. And it does not alter the continued development of workload sharing, and the implementation of the Underwriter Model in Production the Account Executive Model in Asset Management.

Over the next several months, Multifamily will work to implement its modified plan in the Fort Worth/Kansas City region, and will move forward immediately to initiate the Headquarters realignment.  In addition, HUD will continue to work with Congress to pursue full approval of its plan, including consolidation of Asset Management, as part of the FY 2015 budget process.

There are still a lot of details to be worked out, but HUD wants to implement this Transformation in a way that is fair and equitable so Asset Management employees will have the option to relocate.

When the transformation is complete, you will experience a more nimble, efficient, and effective Office of Multifamily Housing. It is partners like you who help us to meet the needs of communities, continue the housing market comeback, and strengthen the overall economy for current and future generations.

HUD’s memo is at:
http://portal.hud.gov/hudportal/documents/huddoc?id=MFTranfsormationUpdate.pdf

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