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Multifamily Wire

Duty to Serve and Green Update

June 29, 2020
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Angela Kelcher

Affordable Housing- Senior Director

Karyn Sper
Karyn Sper

Multifamily Customer and Partner Management - Senior Director

As Jeff Hayward wrote in his May blog, the economic effects of the COVID-19 pandemic have deepened the housing affordability crisis. “Now more than ever,” Jeff wrote, “people need access to affordable housing,” and we’ll be here to help fulfill that need through and beyond this difficult time.

Our affordable housing mission remains the foundation on which we operate. As part of that mission, we are currently quoting certain Duty to Serve eligible business, Green Mortgage Loans, and Healthy Housing Rewards™ loans with a reduced Treasury Floor.

Duty to Serve

Please contact your account team to determine if your deal meets one of the following categories and is a Duty to Serve deal type that is eligible for a quote with a reduced Treasury floor:

  • HUD Section 8 Housing Assistance Payment (HAP) Contracts (must meet the minimum affordability requirements of MAH)
  • Low Income Housing Tax Credit (LIHTC) Property in an area that meets residential economic diversity eligibility (does not include new construction)
  • HUD Rental Assistance Demonstration (RAD) Mortgage Loans
  • HUD 202 Mortgage Loans
  • USDA Section 515 Mortgage Loans

More information about Duty to Serve and how eligibility is determined can be found in our Guide to Duty to Serve Eligibility and FAQs Document. 

Green & Healthy Housing Rewards

We are committed to advancing our environmental and social impact and our mission expands to Green Mortgage Loans and Healthy Housing. Our Green and Healthy Housing programs improve the quality of life for residents and can help improve the bottom line for residents and for properties. 

Both Green Mortgage Loans and Healthy Housing Rewards deals are also being quoted with a reduced Treasury Floor. You can also leverage the benefits of Green Rewards and Healthy Housing Rewards loan products on your next Multifamily Affordable deal.

Please do not hesitate to contact the MAH Deal Team or the Green Team with any questions about eligibility. We look forward to working with you.

Thank you for your partnership.