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HUDBlast October 10, 2006 |
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Special Claims Processing Guide Frequently Asked Questions (FAQs) HUD’s recent release of the Special Claims Processing Guide generated a number of questions from the industry. HUD has made a true commitment to responding to these questions as quickly as possible to ensure timely and compliant implementation of new processes. The Special Claims Guide FAQs are available on the following HUD web page. http://www.hud.gov/offices/hsg/mfh/rfp/faq_scpg.pdf The questions and answers are organized in order of the Special Claims Guide format. As new questions and answers are added, they will be inserted into the appropriate section. The new questions and answers will be highlighted in blue in order to distinguish the old from the new additions. The date at the top of the document will reflect the date of the most recent additions. New OCAFs Published On October
2, 2006, a Federal Register notice (FR-5103-N-01) was posted at
www.hudclips.org regarding certain Operating Cost Adjustment Factors
for 2007 for Multifamily Housing Project-Based Section 8 rent adjustments at
contract renewal under Section 524 of the Multifamily Assisted Housing Reform
and Affordability Act of 1997 (MAHRA). 2007 Fair Market Rents HUD published the Fiscal Year (FY) 2007 Fair Market Rents (FMRs) in the Federal Register on September 27, 2006. They are effective as of October 1, 2006. FY2007 FMR documentation is available at www.huduser.org/datasets/fmr.html FY 2007 FHA Multi-family Mortgage Insurance Premiums NAHMA provided us with excellent news concerning the FY 2007 FHA multifamily mortgage insurance premiums (MIPs)! In light of overwhelming opposition to the MIP increases proposed in the President’s FY 2007 budget from industry groups and members of Congress, HUD has reconsidered its proposal. The FY 2007 MIPs will remain the same as the FY 2006 MIPs. The effective date was October 1, 2006. This shows how support of NAHMA and your local AHMAs - as well as other industry organizations – can really make a difference in your operations and overall “bottom line”. A notice issued in the Federal Register explains: “HUD issued a notice on June 28, 2006, announcing for public comment, proposed changes in the mortgage insurance premiums (MIP) for Federal Housing Administration (FHA) multifamily mortgage insurance programs whose commitments will be issued or reissued in Fiscal Year (FY) 2007. The notice allowed 30 days for public comment. Approximately 359 comments were received by the comment due date, and the comments, including a letter signed by 121 members of the U.S. House of Representatives and 26 United States Senators, were overwhelmingly opposed to the MIP increases proposed for a number of HUD's multifamily housing mortgage insurance programs. Based on consideration of the concerns raised in the comments, HUD has decided not to proceed with implementation of the MIP increases for FY 2007. Instead, the FY 2006 MIPs, issued on August 30, 2005, will remain in effect for FY 2007. However, FHA will continue to evaluate alternative pricing strategies to maintain the integrity of the fund and achieve policy goals.” For more information, please see: Sign Up for RHIIP ListServ We STRONGLY recommend that you sign up for the Rental Housing Integrity Improvement Project’s ListServ. By signing up for this HUD service, you will get timely announcements about HUD changes that affect the Multi-family industry. It’s where we get a lot of our information. To sign up, visit the following web site and provide appropriate contact information. http://www.hud.gov/subscribe/signup.cfm?listname=Multifamily%20Housing%20RHIIP%20 (Rental%20Housing%20Intergrity%20Improvement%20Program)%20Tips&list=MFH-RHIIP-TIPS-L RBD does not act as a legal advisor nor as a regulatory governing agency. The recipient should understand that any materials or comments contained herein are not designed for, nor should be relied upon as a source of legal guidance or as a final authority with respect to any particular circumstance. Ross Business Development, Inc. makes no warranty of merchantability or fitness for a particular purpose or any other warranty of any type. Owners and management should seek competent legal advice in developing and carrying out policies and procedures. While we have been diligent in our efforts to provide comprehensive and accurate regulatory information, Ross Business Development, Inc. shall not be responsible for errors or inaccuracies. |
