AHACPA is a national association of CPAs and financial professionals providing HUD financial services, support and education for the affordable housing and HUD-approved lender communities. We inform you of financial requirements and provide specific guidance on how to efficiently implement those requirements.  Our website provides the most valuable affordable housing and FHA lending news, templates, guides and more, available!

 

Multifamily (FASSUB System) Deadline Extension

The Office of Housing has authorized a global 30-day extension to all owners with fiscal years ended 12/31/13. This extension is being offered to allow owners and auditors additional time to adapt to the requirements of Housing Notice H 2013-23, and the FASSUB system release on December 6, 2013, that implemented revisions to the HUD Consolidated Audit Guide, Handbook 2000.04. Submissions with fiscal years ended 12/31/13 will now be due on April 30, 2014.

Lender (LEAP) Recertification Extension

HUD has announced the deployment date for LEAP will be May 9, 2014.  Therefore FHA Lenders may begin their annual recertification procedures starting May 9, 2014.  Lenders will have until June 9, 2014 in order to provide them with 30 days of system access to complete the process. This extension applies to Lenders with December 2013, January 2014 or February 2014 Fiscal Year End.  http://portal.hud.gov/hudportal/documents/huddoc?id=sfh_leap_recert_audit.pdf

More information can be found on HUD’s LEAP Information page.

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