| HUD Clarifies 2530 for Syndicators |
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HUD's Office of the General Counsel posted this notice on their FAQ site last month:
"Neither direct investors nor syndicators must submit form HUD 2530 for any Multifamily transaction involving LIHTC in which their role is limited to a passive interest as a function of their investment in Tax Credits...."
This clarification can be helpful for any Syndicator who has been reluctant to file an LLCI in lieu of a HUD 2530. The FAQ post goes on to confirm the intent with: "This policy is now not limited to tax credit pilot transactions"
We reached out to OGC for confirmation about typical syndicator controls in the LPA and they responded with: "typical investor oversight matters .... would not trigger having to file a 2530"
We greatly appreciate HUD's clarifications. Please check with your legal counsel for guidance on how this might affect your organization.
Murphy Consulting stays on top of HUD updates!.
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| EIV - Tip of the Month |
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Did you know?
The required annual Security Exam found within EIV has been temporarily suspended for all users. For now, the system will indicate that the user logging in has passed the questionnaire. HUD will be issuing a notice to this effect on their Listserv.
Please know that this does not negate the requirement to take the Federal ISS Training on an annual basis.
Murphy Consulting provides tips, tricks and troubleshooting assistance!
Call us today for help with your APPS and HUD 2530 work. (410) 821-6953
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| REAC Inspection - Tip of the Month |
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Did you know?
REAC is offering to throw out scores and schedule new inspections at a number of properties across the country - ones that were inspected after December 31, 2012 and where the inspection was conducted using the old Version 2.3 Inspection Software.
If you believe you qualify and did not receive a letter in the mail, call REAC to confirm your eligibility. Remember, you are not obligated to have a replacement inspection, you may opt to keep the score you received.
Murphy Consulting can point you in the right direction! Call us today for a referral. (410) 821-6953 |
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Training & Services |
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CHANGE: As of February 2013, we will no longer offer routine training classes in an open registration format.
Outsourced APPS Coordinator services are available for e2530 submissions in APPS. Call (410) 821-6953 or email for details and pricing. (Fees based on org structure and submissions needed.)
EIV Coordinator or User Access help is available for new Coordinators/Users or existing ones - ID application, EIV access, HUD security requirements and access troubleshooting. (Reasonable fixed fee pricing.)
- Owners, Management Agents and Non-Profits may opt for one-on-one APPS processing help via webinar for their in-house Coordinators or Users
- Professional Organizations may arrange for a presentation at their Conference or Annual Meeting.
- For Lenders - We only offer Outsourced APPS Coordinator services.
Contact Denise Murphy Edwards at (410) 821-6953 to discuss options.
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Denise Murphy Edwards is a nationally renowned speaker, APPS/2530 expert and HUD Secure System Specialist. With a reputation as a lively and informative presenter, she has trained thousands of multifamily housing professionals, presenting nationally for NLHA and Leading Age, and regionally for AHMA, NAHRO, ELA and others
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