Multi-Family Housing Underwriting Background Update (pdf) - Rural Development is pleased to announce the release of Version 5.0 of its Preliminary Assessment Tool. The Preliminary Assessment Tool, or PAT, serves as a portal of access for transfers of ownership, preservation, and similar transactions.
Preliminary Assessment Tools (xltm) - Version 5.0 contains a number of enhancements that will continue our efforts to simplify, streamline, and provide greater transparency to the transfer and Multi-family Preservation and Revitalization (MPR) processes for the benefit of our customers and RD field staff. First, Version 5.0 includes a new Stay-In-Owner template for MPR transactions that do not involve a transfer of ownership. While the Stay-In-Owner Template will primarily be used by the agency, it has been made available for viewing by the public. Second, enhancements have been made to the transfer tool to include a new sheet entitled “Cash Analysis” of the project’s balance sheet, as well as a detail of the Sales and Purchase Agreement, which is found on the “General Info” sheet. A complete summary of the updates the PAT v5.0 are detailed in the “About This Template” page.
Preliminary Assessment Tool Customer Comments and Questions (xlsx)
New Construction Underwriting Template (xlsm)- This standardized underwriting Template was developed for Agency underwriters and reviewers to document the terms of proposed New Construction RRH and FLH transactions after selection under the respective NOFAs. This tool is used internally to analyze the transaction proposed by the applicant and verify compliance with program requirements, standards and principles.
CNA Provider Form (pdf) - The CNA Provider Directories are available by contacting the State Architect for each state. Please contact the state office for more information, or to submit the CNA Provider Information Form for your company.
CNA Template (xlsm) - The CNA template Ver 1.5h updates and replaces all previously used versions of CNA Worksheet. The template documents the findings reached when using RD's Published Guidance on the Capital Needs Assessment (CNA) Process. It includes updated estimated useful life tables, and incorporates the rehabilitation guidance and miscellaneous format revisions for consistency with current program initiatives. This form has been tested and verified using the standard Windows Microsoft Excel® (Excel 2013) to resolve compatibility issues previously reported. Use with other operating systems such as those from Apple® or Android®, or those using earlier spreadsheet programs may continue to experience compatibility issues requiring further discussion in the CNA report.
Guidance on the Capital Needs Assessment Process (pdf) -This Unnumbered Letter (UL) provides updated clarification and guidance on the Rural Development Capital Needs Assessment (CNA) process. This document is comprised of ten main sections: 1) References to CNA in 7 CFR Part 3560 and the RD MFH Handbooks; 2) Contract Addendum; 3) Requirements and Statement of Work for a CNA; 4) The CNA Review Process; 5) Definitions; 6) Guidance for the Multi-Family Housing (MFH) Property Owner Regarding Contracting for a CNA; 7) Revising a CNA; 8) Updating a CNA; 9) Incorporating a Property’s Rehabilitation into a CNA; 10) Repair and Replacement Schedule; 11) Transition to Underwriting Phase. There are also ten attachments to this UL identified as Attachments A, B,C, D, E, F, G, H, I, J and two Subattachments A-1 and B-1. This entire Unnumbered Letter should be made available to RD MFH property owners, applicants and CNA Providers who are or are planning to submit transactions using the MPR or any other RD RRH or FLH program loan making or servicing authorities.
Multi-Family Housing Property Exit Data - The Rural Housing Service’s Multi-Family loan programs (MFH) were started in the late 1970s, and as a result, the mortgages Rural Development (RD) used to finance multifamily housing developments are coming due. When a MHF property mortgage matures: the owner is no longer under contract to offer affordable rents to low- and moderate-income families and Rental Assistance (RA) is no longer available to support the families’ tenancy.Rural Development (RD) is acutely aware of the challenges that maturing MFH property mortgages present to the Federal Government’s important and invaluable investment in affordable rental housing for low- and moderate-income families. RD issued an Unnumbered Letter on April 28, 2015 that describes steps a borrower can take to keep the property in the RD portfolio, including submission of an application for loan deferral under the Multi-Family Preservation and Restructuring (MPR) loan program. The linked dataset provides loan-level information when USDA Section 514 and 515 properties are projected to pay off their loans and exit USDA's Multi-Family Housing program. Other information provided includes whether the loan is prepay eligible and when, loan amount, original loan term and remaining term days, borrower characteristics, property location and characteristics, and more,
NOTE: If state specific forms are not shown above, please ensure that your state is selected in the dropdown menu above to find the State Office contact information and speak to a Housing Programs Specialist before attempting to fill out any forms or applications. This will save you valuable time in your application.
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