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[HUD-Nor-Cal] Reserve for Replacement Procedures Guidance Memo for Owners & Agents

Friday, March 29, 2019

The following information was provided to HUD industry partners through the Multifamily West Region HUD listserv.  We are distributing this message as a service to our PBCA partners.  The documents that are discussed below can be found by clicking here:

HUD-9250 Document

Reserve for Replacement Procedures Guidance Memo for Owners Agents

Dear Industry Partners:

HUD Multifamily West Region, Asset Management Division, has released the attached memorandum that provides clarifications to current guidance for Reserve for Replacement requests.  The memo provides information on:

  • Proper submission procedures through central mailboxes***

  • Required deposit & minimum level to the reserves account

  • Eligible  & ineligible uses

  • Tenant-caused damages

  • Advance requests for major rehabilitation and/or capital repair projects

  • Record keeping & monitoring procedures

     

    ***Attached to this email you will also find the improved HUD Form 9250 and Mortgagor Certification.  This version of the form requires no cover letter, is pdf fillable, and includes buttons for sending the package to either San Francisco or to Denver (buttons are located on the bottom of page 2).

     

    Should you have any questions regarding the provided guidance, please contact your assigned Account Executive.  You can look up the individual assigned to a property and locate contact information on our website at: http://portal.hud.gov/hudportal/HUD?src=/states/shared/working/west/mf/ownmgmt/ae.

Contact Center: 800 982-5221, TTY-800-735-2929, Spanish TTY-800-855-3000
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