More notes on that quarterly waiver list
It's worth looking for policy pattern changes in these third-quarter 2005 regulatory waivers that HUD published today because they're the first to show acts by Brian Montgomery as FHA Commissioner. The second-quarter FHA waivers, listed in the Nov. 7, 2005 Federal Register, were signed by the previous commissioner, John Weicher.
It looks like I already caught the biggest change in my previous post: these long lists of Mark-to-Market fee waivers granted as "incentives to encourage owner cooperation," which are attributed to Montgomery, seem to be new. The second-quarter list shows Weicher did not grant waivers of this type, though he did grant other waivers in the Mark-to-Market program, allowing a number of projects to exceed the 12-month limit on above-market rents. Montgomery also continued granting 12-month deadline waivers at about the same rate. Weicher granted 90 waivers of the rule against amending capital advance amounts before initial closing, but Montgomery granted only 66.
Elsewhere at HUD, there were 31 second-quarter waivers of public housing authorities' payment standards and 15 in the third quarter. Could be the time of the year making the difference, of course.
There's more in these files on individual unique programs and special cases. Highly technical stuff but HUD-funded developers or program managers may want to read further.
[MORE, 2/26/06: Actually, if you look at the third-quarter regulatory waivers for 2004, there were comparable waivers of Mark-to-Market fees then too. Sorry to give the impression that these were new.]
It looks like I already caught the biggest change in my previous post: these long lists of Mark-to-Market fee waivers granted as "incentives to encourage owner cooperation," which are attributed to Montgomery, seem to be new. The second-quarter list shows Weicher did not grant waivers of this type, though he did grant other waivers in the Mark-to-Market program, allowing a number of projects to exceed the 12-month limit on above-market rents. Montgomery also continued granting 12-month deadline waivers at about the same rate. Weicher granted 90 waivers of the rule against amending capital advance amounts before initial closing, but Montgomery granted only 66.
Elsewhere at HUD, there were 31 second-quarter waivers of public housing authorities' payment standards and 15 in the third quarter. Could be the time of the year making the difference, of course.
There's more in these files on individual unique programs and special cases. Highly technical stuff but HUD-funded developers or program managers may want to read further.
[MORE, 2/26/06: Actually, if you look at the third-quarter regulatory waivers for 2004, there were comparable waivers of Mark-to-Market fees then too. Sorry to give the impression that these were new.]
posted by Martha Bridegam at 5:23 PM
<< Home