🏡USDA Delays Multifamily Housing Credit Report Process Changes
Multifamily Housing Program Update to the Credit Report Process
Summary
The Rural Housing Service (RHS or Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), published a final rule on December 31, 2024, to update its regulation on how credit reports are obtained for the purposes of determining eligibility and feasibility for Multifamily Housing (MFH) Programs. The effective date of that final rule was January 30, 2025. This document delays the effective date of the final rule by 60 days.
Agencies
- Agriculture Department
- Rural Housing Service
Business Impact
$$ - Med
The regulatory update details a change in credit reporting requirements for Multifamily Housing Programs, which impacts financial assessments of eligibility and feasibility. This affects business owners and executives in the housing sector who rely on USDA funding. The delay in implementation allows for further review, potentially influencing planning and financial forecasting.