Changes Related to Reserve Account Administration in Multi-Family Housing (MFH) Direct Loan Programs

The Rural Housing Service (RHS or Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is updating its regulations and implementing changes related to the administration of property reserve accounts under the Multi-Family Housing (MFH) section 515, Rural Rental Housing (RRH), and section 514, 516 Farm Labor Housing (FLH) programs. This final rule will increase flexibility in project refinancing for additional capital improvements needed at MFH section 515, RRH, and section 514, 516 FLH properties.