- unauthorized distributions
Potential multi-family housing client that was just referred to us. Had a HUD insured mortgage a couple years ago that…
- Debt in the calculation of major programs
We have a multifamily property with 33 units, $125,000 in subsidy, and a HUD guaranteed debt of $2,200,000. Would this…
- Replacement Reserve Withdrawal to Pay Debt Service – Surplus Cash Effect
Due to COVID, if a property has been approved for a withdrawal of replacement reserve funds to pay debt service,…
- Reserve for replacement withdrawals
Should account #S1000-030 and S1320WT equal if the funds withdrawn are expensed during the year? I assume they would not…
- HUD capital assets
We a non-profit HUD entity that is owned by another non-profit entity (we'll call it the parent). The parent will…
- Follow up on my inquiry of 3-12-20
Les, I think I have found another CPA firm to review my NAS of drafting the financials but they want…
- Mortgage debt classification when sale occurring
Good morning Les, We are reporting on a Project which sold in January 2020 with no further reporting requirements. The…
- HUD 232/223(f) – Allowable fees charged at admission / management fees in excess of certified rate
Two unrelated questions, both dealing with a HUD 232/223(f) Assisted Living Facility: Facility charges a "community fee" upon admission to…
- Non audit services
Do you have any resource to find a CPA firm willing and qualified to review financial statements when "substantially prepared…
- Loans made through Surplus Cash
Good morning Les, We audit a for-profit project. The owners have loaned $600,000 to the partnership for repairs to the…
- FHA username
Every year in the fall, my username, as an Independent Public Accountant (IPA), is deactivated on FHA Connection by HUD.…
- HUD Escrow Requirements
What are the mortgagor's obligations as it relates to escrow accounts held by a HUD lender? If an escrow account…