California SB 721: The "Deck and Balcony Inspection" Bill
In September 2018, a bill commonly referred to as the "deck and balcony inspection" bill (Senate Bill No. 721) was approved in California, establishing inspection for exterior elevated elements and their associated waterproofing elements of multi-unit residential buildings with three or more dwelling units. This took effect on January 1, 2019, and was in response to a 2015 balcony collapse in Berkeley, California, that killed six people and injured seven. An investigation into ...
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.
Click here for the official press release.
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 ...
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 ...
It's A Good Time To Be Green
Green Financing for Multifamily Housing
For just over a year, the Fannie Mae Green Rewards and Freddie Mac Green Advantage programs have been running at full speed. Both programs offer attractive benefits, in the form of pricing discounts and underwriting of cost savings, to borrowers looking to purchase or refinance a multifamily property. Borrowers are incentivized to make energy- and water-saving improvements to their properties, and the benefit is multifaceted. Borrowers both save money over the ...