HUD Participates in Catching the 3rd Wave Understanding Multifamily of Tomorrow

SMAC members and affiliates listening the HUD SE Regional Administrator Jennings.

The 14th Annual Southeast Mortgage Advisory Council Conference recently convened in Atlanta to address the vision of Multifamily Housing of tomorrow. HUD Regional Administrator Ed Jennings, Jr. kicked off the conference events before over 250 SMAC members and affiliates. Jennings brought attention to the 50th anniversary of HUD and how HUD multifamily housing transformation is meeting the demands of an every increasingly dynamic business environment with improved customer service and accountability.

Touching on Rental Assistance Demonstration (RAD) as a vehicle of opportunity for the preservation of affordable housing Jennings gave an update concerning the program to include the financial and tenant related benefits.

"HUD is optimally focused and has a vision and approach consistent with its 50 year history of innovation and databased decision-making to provide excellent service to our partners and customers now and into the future", said Jennings.

Throughout the day attendees learned about the 3rd wave of the Atlanta HUB, Jacksonville and Greensboro Transformation, updates on Multifamily of Tomorrow from Ben Metcalf, HUD Deputy Assistant Secretary, Office of Multifamily Housing, Affordable housing initiatives and capital market updates. The day prior attendees participated in valuation and market study training.

The Rental Assistance Demonstration was created in order to give public housing authorities (PHAs) a powerful tool to preserve and improve public housing properties and address the $26 billion dollar nationwide backlog of deferred maintenance. RAD also gives owners of three HUD "legacy" program (Rent Supplement, Rental Assistance Payment, and Section 8 Moderate Rehabilitation) the opportunity to enter into long-term contracts that facilitate the financing of improvements.

The Southeast Mortgagee Advisory Council (www.smaconline.net/) is established to provide constructive advice and support to HUD's Multifamily Hub office leadership and staff, to improve the effective delivery of the FHA multifamily insurance program in the Atlanta, Greensboro and Jacksonville Multifamily Housing Hubs.

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