Monday, May 2, 2011

A wrinkle in new HUD multifamily regs

Hadn't thought about it this way: in a new set of regs on multifamily lending, HUD officials, responding to commenters, don't wish to let multifamily loans go to individual people as owners:
HUD is further concerned that ownership by natural persons would allow creditors to reach the assets of the insured project. That could occur for example, if the natural person were to declare bankruptcy. HUD therefore declines to adopt the recommendation.
Huh. Accompanying Paperwork Reduction Act fuss here.

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