NAHMA USDA Update: Section 538 Guaranteed Rural Rental Housing Handbook Revisions; Build America, Buy America Waiver Expires Next Month

January 23, 2023

Dear NAHMA Members,

Pleas find below recent updates from RHS regarding:

  • Recent revisions to the Guaranteed Rural Rental Housing Program Origination and Servicing Handbook
  • RD’s implementation waiver for the Build America, Buy America Act will expire on Feb. 3, 2023

For more information, please see the updates below.

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Multifamily Housing

Multifamily Housing Section 538 Guaranteed Rural Rental Housing Handbook Revisions

The Rural Housing Service (RHS) recently posted revisions to the Guaranteed Rural Rental Housing Program (GRRHP) Origination and Servicing Handbook.  These revisions included a correction to Attachment 4-A GRRHP Application Checklist in Chapter 4, to align the Market Study and Appraisal submission requirements with Chapters 3 and 4 of the Handbook.  Attachment 4-A now clearly indicates that both a Market Study and an Appraisal must be included in lender application packages. 

Other updates included language for the new lease up reserve calculation that was announced in a Federal Register Notice dated September 6, 2022 and all references to “State Office” were replaced with “the Agency” to reflect the realignment of the Office of Multifamily Housing. 

Please contact Jonathan Bell, Branch Director, Processing and Report Review at [email protected] with any questions or requests for clarification.

For program information...