Mortgagor’s Guide for Multifamily Reserve Replacement Fund

This Mortgagor’s Guide for Multifamily Reserve for Replacement Funds was originally published on October 15, 2014. The current revision is effective September 2020.

Programs

MFA administers reserve for replacement accounts for the following programs:

• HUD Risk Sharing 542(c)
• HUD Neighborhood Stabilization Program (NSP)
• Section 538 Guaranteed Rural Rental Housing Program

Required Documentation for Requests for Reimbursements

Requests must include the following forms and documents:

• Cover letter – including any information that requires clarification for the request. If applicable information for direct deposit requests should be included in the cover letter.
• Form HUD-9250, “Funds Authorization Form” must have the current OMB expiration
• Attachment 1, Mortgagor Certification and Request Detail
• Invoices - including item description or description of work completed, unit number(s), common area(s), invoice date, invoice amount, etc. (If non-reimbursable items are listed on invoice, be sure to circle what you are requesting reimbursement for as well as add tax specific to reimbursable items.)
• Proof of payment - dated remittance stub referencing invoice number(s)
• Proof of funds disbursement – bank statement(s)
• Bids – this applies to requests for future work only

Dates and Deadlines

Requests are due quarterly to MFA for capital expenses incurred within the quarter. Requests for reimbursement must be submitted by the last day of the month following the end of each quarter.