Finance: NAHB Helps Multifamily Builders Meet FHA Financing Guidelines
 At a time when the importance of this government agency is expanding, NAHB is reminding builders and developers that you are required to affirmatively market your homes to minority populations in order for them to qualify for Federal Housing Administration (FHA) financing. To ensure that specific steps are followed, as described in 24 CFR 200.620, the regulations require multifamily builders and developers to file an Affirmative Fair Housing Marketing Plan (AFHMP).
As an alternative, NAHB's Voluntary Affirmative Marketing Agreement provides multifamily builders with an off-the-shelf version of the AFHMP. Under the voluntary agreement, the builder promises to conduct affirmative marketing and report these activities annually, which eliminates the need to file an AFHMP and have it approved by a HUD official.
Get more details on builder training, marketing and reporting requirements pertaining to this subject in last week's NBN.
For more information, e-mail Andrew Holliday or call him at 800-368-5242 x8305.
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