HUD Publishes Green Mortgage Insurance Premium Compliance Reporting Housing Notice

• By: admin
• On: 11/27/2023 14:58:33
• In: HUD Notices

On November 20, 2023, HUD's Office of Multifamily Housing Programs and Office of Residential Care Facilities published a Housing Notice titled Required Use of Portfolio Manager for Green Mortgage Insurance Premium Compliance Reporting, which pertains to changes to annual compliance reporting for Green Mortgage Premium (MIP) rate recipients. The Notice replaces previous instructions provided to Multifamily and Section 232 properties.

As previously required, the Statement of Energy Performance (SEP) must be submitted by March 31 of the subsequent year after the 12-month data collection period of January 1 to December 31. Instead of exporting and emailing compliance data to HUD, however, property owners are now required to use Portfolio Manager's data sharing function to share compliance data with HUD. This one-time action will replace annual exports by property owners, ensuring easier and more reliable reporting. This process applies to SEPs due March 31, 2024, as well as all subsequent submissions until otherwise amended. Detailed instructions on how to connect with the HUD accounts are available here under “How to Register and Benchmark Multifamily Properties in Portfolio Manager.” 

Read the full Notice here.