HUD Shutdown Ends, At Least For Three Weeks
On January 25th, the President and Congress approved a short-term Continuing Resolution (“CR”) to reopen the federal government for three weeks. While there remains a possibility of another partial government shutdown when the three-week period ends on February 15th, the CR allowed HUD to resume normal operations on January 28th. Since their return, HUD employees have been making their way through a significant backlog of work that accrued during the 35-day partial government shutdown period. At the end of last week, HUD Multifamily issued new guidance (the “HUD Guidance”) describing how it would prioritize its work going forward relating to certain multifamily asset management and loan processing/closing functions.
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