Multifamily Housing
The multifamily housing programs look after the overall management, development, direction, and administration of HUD Multifamily housing programs. The offices under the multifamily housing are mentioned as follows:
- Deputy Assistant Secretary officeÂ
- Field support and operations officesÂ
- Asset management and Portfolio oversight OfficesÂ
- Recapitalization office
- Multifamily production officeÂ
Let us learn about these offices at greater length in the sections mentioned below.
Office of Deputy Assistant Secretary
The office of the deputy assistant secretary is responsible for implementing the multifamily housing programs that are authorized by the National Housing Act. The main thing that the Deputy assistant secretary oversees is asset management, production, portfolio oversight, and recapitalization.
Its field operations consist of 5 Regional centers, 7 Regional Satellite offices, and asset management servicing offices worldwide. Some of the crucial activities of this office include:
- Look after risk-sharing programs such as program compliance by housing finance agencies and government-sponsored enterprises.
- Perform asset management & portfolio oversight of the multifamily housing projects that are developed under the Multifamily Mortgage Insurance.
- It also preserves properties and checks affordability by restructuring rents and mortgages with the help of the programs.
- Provides service to project-based rental subsidy programs that are operating in multifamily housing projects.