HUD revising Multifamily Closing Documents

Posted On: April 3, 2019

This week, the U.S. Department of Housing and Urban Development (HUD) announced that it has completed the Paperwork Reduction Act of 1995 (PRA) process for FHA-insured multifamily rental closing documents. The department sent a memo to FHA Multifamily Lenders and Borrowers.

HUD had a public comment period per a Federal Register notice in June of 2018, but staffers were not able to review those comments before an Office of Management and Budget deadline. This does not mean HUD won’t consider the comments submitted. A new memo says “in the near future,” HUD staff intends “to initiate the PRA process for the Closing Documents that will include, as a starting point, changes HUD will propose to make in response to public comments received with the 30-day notice as well as other needed changes.”

Read the full memo dated April 1, 2019.


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