HUD's Multifamily Plan Gets Congressional Approval

Congress recently approved three initiatives in HUD's Multifamily Transformation Plan. Secretary Donovan announced that HUD will proceed with its existing plan for the transformation, with one key modification. For now, Asset Management employees will not relocate to other offices. They will continue to operate in existing offices around the country. But the plan will remain otherwise unchanged. The transformation will still incorporate the four components we originally announced:

• Workload Sharing;
• The Underwriter Model in Production;
• The Account Executive Model in Asset Management; and
• Streamlining operations by moving to a five region model, with each region having one hub office and one or two core satellite offices.

Secretary Donovan stated that he is committed to realizing the full plan and plans to work with Congress during the fiscal year 2015 budget process to make the case for approval of the total proposal, which would allow for consolidation of Asset Management staff starting next year.