NAHMA HUD Update: HUD releases Capital Needs Assessment e-Tool

HUD introduced the attached Capital Needs Assessment (CNA) e-tool, which will be available for voluntary use beginning January 15, 2017. 

Starting July 1, 2017, use of the CNA e-Tool will become mandatory for each capital needs assessment prepared for a HUD multifamily property.  During this six-month phase-in period, participants will receive training and other assistance to gain proficiency with using the CNA e-tool.

The CNA e-tool is the result of a collaboration between HUD and USDA to create a standard, automated, electronic process for CNAs available for use by all multifamily industry participants, including:

• All Multifamily Accelerated Processing (MAP) lenders originating or servicing insured multifamily mortgages;
• Owners of assets supervised by the Office of Asset Management and Portfolio Oversight for which CNAs may be required;
• Owners and Participating Administrative Entities (PAEs) engaged in Mark to Market (M2M) restructuring; and
• Public Housing Agencies and owners participating in the Rental Assistance Demonstration (RAD).

 Trainings and instructions for the CNA e-tool are available here.