1.  Final Rule on Income Calculations and Asset Requirements

The U.S. Department of Agriculture’s Rural Housing Service (RHS) is delivering on the Trump Administration’s priorities to streamline and modernize government services by publishing a final rule revising policies on household income calculations and net family assets.

The final rule aligns the Multifamily Housing annual income certification requirements with the Housing Opportunity Through Modernization Act of 2016 (HOTMA), ensuring consistency with the U.S. Department of Housing and Urban Development.

For more details, please refer to the final rule published in the Federal Register.

2.  Extension of the Simple Transfer Pilot Program

The U.S. Department of Agriculture’s Rural Housing Service (RHS) is delivering on the Trump Administration’s mandate to reduce regulatory burden by publishing an extension of the Section 515 Rural Rental Housing Simple Transfer Pilot program. The pilot program reduces application requirements, lowers transaction-related costs, and improves processing times for Multifamily Housing Program borrowers.

Through this pilot program, ownership changes that do not require full rehabilitation financing or reserve account funding get access to streamlined options. The pilot program encourages preservation and revitalization of the Multifamily Housing portfolio.

RHS is extending the pilot program through December 31, 2027. For more details, please refer to the full Notice published in the Federal Register.