In the past few weeks, the multifamily industry has seen a flood of rumors – program revisions, regulatory rollbacks, funding cuts, and changes at HUD. It has been difficult for developers to keep up.
Some rumors have come to pass:
- The Administration has delayed the adoption of the 2021 International Energy Conservation Code (IECC) for an additional six months as the minimum energy-efficiency standard for specific multifamily housing programs, including FHA Multifamily and HOME.
- FFRMS rules for single-family families have been suspended in advance of implementation, and it seems likely that FFRMS for multifamily families will be reversed as well.
- The Environmental Protection Agency is working to craft new wetlands regulations meant to reduce red tape and cut permitting costs.
Other rumors suggest that more changes are coming, and we are following them closely. Our contacts in government and industry have been invaluable. NAHB and the Mortgage Bankers Association have also been a great source of information.
So, if you hear rumors, please reach out. We will share what we know to be true, what we hear, and what is just speculation.
