Download or read book Extension of HUD s Mark To Market Program written by United States Senate and published by . This book was released on 2019-08-31 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extension of HUD's Mark-to-Market Program: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Ninth Congress, second session ... June 14, 2006.
Download or read book Extension of HUD s Mark To Market Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-13 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extension of HUD's Mark-to-Market Program : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Ninth Congress, second session ... June 14, 2006.
Download or read book Extension of HUD s Mark to Market Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Extension of HUD s Mark To Market Program S Hrg 109 1052 June 14 2006 109 2 Hearing written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multifamily Housing written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This testimony discusses the Mark-to-Market Program, which provides for low-income rental housing while reducing the federal government's costs for rental subsidies. The program, which is administered by the Department of Housing and Urban Development's (HUD) Office of Multifamily Housing Restructuring (OMHAR), provides the framework to restructure insured Section 8 properties in HUD's multifamily housing portfolio by lowering their rents to market levels when their current Section 8 contracts expire and reducing their mortgage debt if such action is necessary for the properties to continue to have a positive cash flow. Without restructuring, rents for many of the 8,500 properties in HUD's portfolio would substantially exceed market levels, resulting in higher federal subsidies under the Section 8 program. Legislative authorization for the Mark-to-Market program and OMHAR is scheduled to end on September 30, 2001. If authorization is not extended, HUD will still be required to renew Section 8 contract rents at market levels, but the tools established by the Multifamily Assisted Housing Reform and Affordability Act for restructuring mortgages will no longer be available. This testimony focuses on (1) the status of the Mark-to-Market program, (2) factors that have affected the pace of program implementation and the actions HUD has taken to address these factors, and (3) the advantages and disadvantages of extending the program past its statutory termination date and of transferring program responsibilities to HUD or keeping them with OMHAR.
Download or read book Extension of HUD s Mark to Market Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multifamily housing progress made in establishing HUD s Office of Multifamily Housing Assistance Restructuring report to congressional committees written by and published by DIANE Publishing. This book was released on 1998 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multifamily Housing written by United States. General Accounting Office and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book S Hrg 109 1052 written by U.S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-11 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Download or read book Extension of HUD s Mark to Market Program written by United States. Committee on Banking, Housing, and Urban Affairs. Senate. Congress and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multifamily Housing written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1997, Congress established the mark-to-market program to help preserve the availability and affordability of low-income rental housing while also reducing the cost to the federal government of rental assistance provided to low-income households. The mark-to-market program was developed for multifamily properties that are both insured by the Federal Housing Administration (FHA) in the Department of Housing and Urban Development (HUD) and aided through the project-based Section 8 program. Under the mark-to-market program, at the time of the assisted properties' section 8 contract renewal, HUD resets rents to prevailing market levels and restructures a property's mortgage debt, if necessary, to permit a positive cash flow. This process is designed to ensure that properties whose rents are reduced to market level still have sufficient income to meet the mortgage payments and operating expenses on the property. The Office of Multifamily Housing Assistance Restructuring (OMHAR) was established within HUD to administer the mark-to-market program. OMHAR places federally assisted, FHA-insured properties on the watch list when their rents have been reduced to market level under the mark-to-market program but their mortgages have not been restructured. Two-hundred and eleven properties have been placed on the watch list, for one of three reasons: (1) the property owners elected not to enter into or complete the mortgage restructuring process; (2) OMHAR determined that the property was not financially viable for restructuring; or (3) the property owners were disqualified from the mortgage restructuring process because of certain actions by the owner, such as financial or managerial improprieties. Eighty-seven percent of OMHAR's watch list properties received HUD inspections that indicated they were in satisfactory physical condition, but some of these inspections occurred before the properties were placed in the watch list.
Download or read book Multifamily Housing written by United States. General Accounting Office and published by . This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multifamily Housing written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Government Accountability Office (GAO) is an independent agency that works for Congress. The GAO watches over Congress, and investigates how the federal government spends taxpayers dollars. The Comptroller General of the United States is the leader of the GAO, and is appointed to a 15-year term by the U.S. President. The GAO wants to support Congress, while at the same time doing right by the citizens of the United States. They audit, investigate, perform analyses, issue legal decisions and report anything that the government is doing. This is one of their reports.
Download or read book Multifamily Housing written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO discussed the Department of Housing and Urban Development's (HUD) proposal to restructure its multifamily housing portfolio. GAO noted that: (1) HUD pays higher costs than necessary to subsidize low-income properties and sets lower rents than required to maintain the properties' physical condition; (2) HUD has proposed to replace project-based assistance with tenant-based assistance and restructure mortgages for properties, when needed; (3) HUD is targeting about 9,000 properties that receive both Federal Housing Administration mortgage insurance and project-based section 8 assistance; (4) rents for 67 percent of section 8-based properties are less than the market rents for comparable units, while the rents for 80 percent of the newer projects exceed comparable market rents; (5) the costs and savings associated with the HUD proposal are unclear; and (6) in considering the HUD proposal, Congress needs to consider what processes should be used to restructure multifamily mortgages and how much the federal government should finance project rehabilitation.
Download or read book The Multifamily Assisted Housing Reform and Affordability Act of 1997 S 513 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing Opportunity and Community Development and published by . This book was released on 1998 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Flexible Subsidy written by United States. Department of Housing and Urban Development and published by . This book was released on 1992 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Occupancy Requirements of Subsidized Multifamily Housing Programs written by United States. Dept. of Housing and Urban Development. Office of Housing and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
