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 HUD Publishes Two Mortgagee Letters: Creating a Middle Income Housing Option for 221(d)(4), and Multifamily Changes in Debt Service Coverage Ratios (DSCR) and Loan to Value/Loan to Cost Ratios (LTV/LTC)
Today, the Office of Multifamily Housing Programs published two Mortgagee Letters updating the Federal Housing Administration's (FHA’s) Multifamily Housing Programs' underwriting standards and guidelines.
These changes will help increase individual loan proceeds available to developers and decrease the cash needed to close for FHA transactions. This will allow FHA transactions to be more competitive with today’s market needs while encouraging lenders and developers to provide affordable rental homes for those of modest means.
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