Property Manager FAQs
Below are some of the most frequently asked questions we receive from property managers:
Housing Finance Agency Risk-sharing: Section 542(c) enables the U.S. Department of Housing and Urban Development (HUD) and state and local housing finance agencies (HFAs) to provide new risk-sharing arrangements to help those agencies provide more insurance and credit for multifamily loans. The Program provides new insurance authority independent of the National Housing Act. Housing Finance Agency Risk-sharing: Section 542(c) provides credit enhancement for mortgages of multifamily housing projects whose loans are underwritten, processed, serviced, and disposed of by HFAs. HUD and HFAs share in the risk of the mortgage.
If a project receives financing from both DCHFA and DHCD, the project is required to meet all reporting requirements of both agencies.
If a project receives financing and/or subsidies from multiple agencies, the project must adhere to all inspection requirements of each agency.
DCHFA is an independent agency of the District Government that is authorized to provide financing for affordable housing projects in the District of Columbia. DHCD is a DC Government Agency that provides financing for residential, commercial, and economic development projects in the District. Sometimes projects are financed by both Agencies which results in reporting and inspection requirements to both Agencies.
DAC is the Digital Assurance Certification. DAC acts as disclosure dissemination agent for issuers of municipal bonds, electronically posting and transmitting your information to repositories and investors alike. Access to any municipal bond in the DAC System is free of charge by registering. Please see www.dacbond.com for more information.