FHFA Released New Green Lending Requirements for 2019
On November 6, 2018, the Federal Housing Finance Agency (FHFA) announced that the 2019 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be $35 billion for each Enterprise, unchanged from the 2018 caps.
Additionally, the FHFA set new requirements for exclusion from the multifamily cap loans that finance energy or water efficiency improvements through Fannie Mae’s Green Rewards and Freddie Mac’s Green Up/Green Up Plus programs.
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Tips to Prepare, Plan for, and Prevent Disasters
Hurricanes, fires, floods, earthquakes, and other natural disasters can lead not only to loss of life but also to devastating property damage. Planning and preparing for these events mitigates risk and makes the recovery process smoother if disaster does strike.
While it is human nature to procrastinate or to focus on immediate, day-to-day needs rather than an event that may never occur, recent hurricanes, earthquakes, and other disasters offer a valuable lesson to commercial property ...
New Tax Law: A Win for Commercial Real Estate
If you’re not already investing in commercial real estate, maybe you should be. The Tax Cuts and Jobs Act of 2017, signed into law last December, represents the most significant and sweeping US tax reform of the last 30 years and is generally viewed as a big win for the commercial real estate (CRE) industry. While it may take years to see the law’s full effects, certain new provisions will have substantive impact ...
Helping you Streamline the HUD CNA e-Tool Process
Download the current version of the CNA e-Tool here: https://www.hud.gov/program_offices/housing/mfh/cna/atu
Validate the CNA e-Tool here: https://webapps.hud.gov/CNAeTool/faces/CnaValidation
CNA e-Tool instruction: https://www.hud.gov/sites/documents/INSTRUCTFORCNATOOL.PDF
The Value of the CNA e-Tool
The Capital Needs Assessment (CNA) e-Tool automates and standardizes the preparation, submission, and review of a capital needs assessment. As of February 1, 2018, use of the CNA e-Tool is mandatory for all Federal Housing Administration (FHA) multifamily mortgage insurance applications, Rental Assistance Demonstrations (RAD) conversions, and 10-year update capital needs assessments ...
Notes from Lake Minnetonka
For those of you who are Seinfeld fans, I say to you, “The sea was angry that day, my friends….”
I started to write this as a humorous account of Nova’s very own three-hour-tour on Lake Minnetonka on June 11, 2018, but as I kept thinking about it, it morphed into something else. First a bit about me, which you may or may not know: I was a yacht master for seven years, with over 100,000 nautical miles to ...
Improper Handling of Asbestos can be a Costly Mistake for Owners
Asbestos, once a common substance used in American construction because of its versatility and affordability, becomes toxic when it ages or is disturbed. Inhalation or ingestion of the fibers is a known cause of mesothelioma and lung cancer. In 1971, asbestos was declared a hazardous pollutant by the Environmental Protection Agency (EPA), and federal safety regulations and the Clean Air Act contain rules and specific regulations for removal of asbestos-containing materials ...
EPA's 2015 Underground Storage Tank Regulations Compliance Deadline Is October 2018
New Underground Storage Tank (UST) regulations may soon apply to USTs in your state. In some states, new regulations impacting the way USTs are installed and managed are already in effect.
On July 15, 2015, the EPA published new 2015 UST regulations that strengthened existing 1988 UST regulations. The new regulations increased emphasis on properly operating and maintaining UST equipment to prevent and detect UST releases—a leading source of groundwater contamination in ...
Introducing Our New Partnership With Quire
As we move into the new year, Nova remains committed to continually improving our services to our clients. We recognize that the global real estate industry is evolving and that we must learn to utilize today's technology for higher quality reports on the faster delivery schedules with which we are often faced. After extensive research, Nova has decided to team with Quire, a state-of-the-art report authoring software platform. This partnership will enhance Nova's report writing and ...