FHA Revises Policy for Disbursement of Funds for Reserve for Replacement Accounts
On August 15, 2022, HUD’s Office of Housing sent the following information: Dear Multifamily Owners and Operators, The Office of Multifamily Housing recently published Housing Notice 2022-04/Mortgagee Letter 2022-12, introducing its new policy for delegating the process for approving borrowers’ requests for disbursement of funds from Reserve for Replacement (RfR) accounts to lenders. The Policy provides two options…