HUD MULTIFAMILY AND SECTION 8 NEWS UPDATE 

//HUD MULTIFAMILY AND SECTION 8 NEWS UPDATE 

HUD MULTIFAMILY AND SECTION 8 NEWS UPDATE 

On June 19-21, 2019, Housing and Development Software was proud to participate in the National Leased Housing Association (NLHA) 48th Annual Membership Meeting. The NLHA is a national organization representing both private and public major participants in the affordable multifamily rental housing industry. The following important and timely information was discussed at the meetingand we believe are of benefit to share with you: 

 PBCA Procurement: HUD stated its intent is to release a draft procurement by the end of the summer with a short comment period followed with a final version and bids. It seems that HUD intends to go live with the procurement later in 2020. HUD also state that it would be updating the transition guide regarding how the work moves from the old to the new CA when applicable along with the ACC language. 

 TRACS: Lamar Seats announced that HUD’s financial tracking software, which has been used for approximately 30 years, is being updated. In a surprise announcement, Mr. Seats said that TRACS will also be updated, though it is unclear what the timeline is for the TRACS work. If the update follows ideas discussed in recent years, the TRACS processing would move to a server-based model and away from the mainframe environment. This would mean not only getting immediate MAT error response, but also immediate TRACS responses and messages subject to the usual 15-minute delay. There would be no need to wait overnight for results. As a result, it should be possible to submit files, get errors, and resubmit files multiple times in a day and it is likely that TRACS would be available close to 24 hours a day. 

 eSignatures: The eSignature notice has been cleared internally and is now at FHA for review, after which it will go out for comment. The notice will allow eSignatures but not require them. 

 MOR Update: The MOR rule and form revisions will likely not be released for comment until mid-2020; however, HUD did indicate that it is going to move to a risk-based model where a project, dependent on risk factors, will be reviewed every one, two or three years. It is possible that this change will come before the MOR revision. 

 HOTMA: HUD reaffirmed that HOTMA will not go into effect until 1/1/2021. A draft rule for comment should be available by end of the summer 2019 with a final rule in 2020. 

 CA Contract Extension: HUD is moving quickly on the 15-month extension for the existing CA contracts (a 90-day extension goes into effect July 1). They will be contacting the executive directors soon regarding the terms of the longer extension. 

 STAY TUNED. We will provide you with any additional information as it becomes available. Feel free to share any findings in our HDS Forum. 

 For more information on affordable housing, you can reach us via email at affordablehousingtalk@hdsoftware.com. To learn more about the HDS Companies, visit our corporate website hdscompanies.com and click on each of the business lines: HDSoftware, eHousingPlus, and the HDS Foundation. 

By | 2019-06-28T11:49:21-05:00 June 28th, 2019|