NAHMA HUD Update: HUD released Five Draft Chapters of HUD Handbook4350.1

October 31, 2016

On. Oct. 24, 2016, HUD's Office of Multifamily Housing (MF) released five draft chapters of Multifamily Asset Management and Project Servicing - HUD Handbook 4350.1.  HUD is currently accepting feedback  on these chapters for a one-month period, closing on December 2, 2016. NAHMA will be compiling members' comments to provide feedback to HUD by the deadline. Please provide comments to Larry Keys by COB, Tuesday, November 29, 2016.

According to HUD MF, "the Handbook is being revised to incorporate current housing notices and policy updates, mortgagee letters and regulatory and statutory directives.  One noticeable difference in the look and style of the Handbook is the reorganized unit and chapter structure, which follows the life cycle of an asset.  HUD plans to release individual chapters to the Drafting Table as they become available and eventually publish each as either an individual stand-alone chapter or as units of interrelated material."  HUD plans to release additional chapters next month for review.

•  Chapter 2.02- Physical Conditions 
• Chapter 2.06- Budget Based Rent Adjustments
•  Chapter 4.11- Releases and Satisfactions 
•  Chapter 5.02- Civil Rights Enforcement 
• Chapter 7.02- Section 8 Pass-Through Leases