- Change of Year end for a For Profit HUD Project
We have a client that is a for-profit partnership and owns a HUD project (HUD Insured loan & Section 8). …
- SOLD HUD AUDITS
I understand that HUD does not allow the liquidation method and requires an audit as of the day before the…
- HUD 223(f) – Modified Audit Report due to Capital Assets
We have a client who is looking at refinancing multi-family insured properties under HUD’s 223(f) program. Unfortunately, there is a…
- HUD Audit Compliance Testing
Les, What are your thoughts on eliminating tenant file compliance testing for HUD/PHFA properties that have gone through a PMAM…
- Non-profit reporting changes
Will the REAC filing be updated to align with the requirements of ASU 2016-14 that will be in effect for…
- Accrued management fees
A non-profit HUD client of ours recently received communication from HUD that they have concerns that they are behind in…
- Sample engagement letter for GAAP HUD audit
I have a NFP entity that is now under the $750,000 threshold. Is there a sample engagement letter that would…
- REAC Physical Inspection
I have a client with a 6/30 year end that had a physical inspection on 7/3. This particular client never…
- Surplus Cash – Principal Payment Due Next 30 Days
We only do one HUD nonprofit so we are not as familiar with the Surplus Cash calculation. This year, the…
- Repair Escrow
For a HUD multi-family insured mortgage, there was a repair escrow set up at closing. Now the repairs have been…
- Replacement Reserves after HUD Loan Payoff
What happens to Replacement Reserves after a HUD loan has been paid off? We have been looking into clarification regarding…
- surplus cash done before the first surplus cash calculation
My client obtained HUD financing in November 2015. HUD approved a long period audit for the 2016 year (12 months…