Multifamily Questions

  • HUD loan extension fee

    Hi Les, I have a property that is being charged a loan extension fee from their lender for not closing…

  • Loan Advance from Reserve for replacement

    I have a client who was advanced $50,000 from their R4R account to assist with expenses of a fire.  They…

  • only non major section 8 program

    I work with  3 HUD projects that have paid off their HUD insured mortgages and their original HAP contracts are…

  • Auditor Non Compliance Code

    I am completing the schedule of Findings, Questioned Costs, and Recommendations. For S2700-055, Non Compliance Information, the HUD chart of…

  • Reserve for replacement disbursements – line S1000-030

    An FHA Section 232 Project , in accordance with the Q&A for External Stakeholders Coronavirus, Question 10, had released funds…

  • Residual Receipts Compliance Issue

    Hello Les, Hope you and your family are all well. We have a not for profit Section 232 project that…

  • COVID Supplemental Payments

    With the COVID-19 Supplemental payments HUD notice 2020-11 notes the projects should use their excess residual receipts up before requesting…

  • REAC Extension

    We have a client that is a nursing home, they applied for an extension for the REAC filing.  Berkadia who…

  • Surplus Cash Calculation

    Good afternoon, I am working with a HUD project that did a loan modification at the end of 2020.  They…

  • 223(f) Affirmative Fair Housing

    I have downloaded both the basic compliance matrix and the audit guide compliance matrix v2019 from the website.  The information…

  • Rent credits related to Covid

    We are currently auditing a section 223(F) HUD-Insured project for 2020.  The entity gave all tenants $100 credits for March…

  • Covid Footnote

    Les Last year we included a note with regard to the uncertainty of COVID in the 2019 financial statements. I…

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