NAHMA HUD Update: HUD releases Capital Needs Assessment e-Tool
Last week, HUD introduced the attached Capital Needs Assessment (CNA) e-tool, which will be available for voluntary use beginning January 15, 2017.
Starting July 1, 2017, use of the CNA e-Tool will become mandatory for each capital needs assessment prepared for a HUD multifamily property. During this six-month phase-in period, participants will receive training and other assistance to gain proficiency with using the CNA e-tool.
The CNA e-tool is the result of a collaboration between HUD and USDA to create a standard, automated, electronic process for CNAs available for use by all multifamily industry participants, including:
· All Multifamily Accelerated Processing (MAP) lenders originating or servicing insured multifamily mortgages;
· Owners of assets supervised by the Office of Asset Management and Portfolio Oversight for which CNAs may be required;
· Owners and Participating Administrative Entities (PAEs) engaged in Mark to Market (M2M) restructuring; and
· Public Housing Agencies and owners participating in the Rental Assistance Demonstration (RAD).
Trainings and instructions for the CNA e-tool are available here.
Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email firstname.lastname@example.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.