On June 18, 1993 a memorandum of understanding was executed between the FDIC and MFA. MFA agreed to provide oversight of RTC property owners to ensure compliance with land use restriction agreements (LURA), which ensure the preservation of affordable housing units. RTC properties have been purchased through the FDIC and must meet FDIC income and rent limits.
If you are an owner of a RTC property, your partnership with the Asset Management Department will continue throughout the term of your property LURA. The oversight we provide will include periodic compliance monitoring visits, physical inspections, semi-annual reporting and other asset management functions.
Please consider us a valuable resource, and be sure to contact a team member if you have any questions. Important information about the RTC program and resources for property owners and agents can be downloaded from the links listed below.
For more information about the RTC program go to FDIC’s website: https://www.fdic.gov/buying/owned/affordable