The Department of Housing and Urban Development (HUD) has updated the environmental review requirements for multifamily housing development and lending.
The updates, which were issued earlier this week through the Federal Housing Administration (FHA) via a Mortgagee Letter, revised the Multifamily Accelerated Processing Guide. The updates are designed to lower development costs and eliminate operational inefficiencies while continuing to ensure appropriate underwriting standards and compliance with regulatory requirements.
The revisions include the removal of standalone railroad vibration assessment requirements; restoring prior policy for pressurized pipelines; updating standards for high voltage power lines and fall hazards; and clarifying noise-sensitive outdoor uses.
HUD said the changes will be implemented immediately for any mortgage application that has not reached initial endorsement.
“This is about fixing policies that have made housing expensive and difficult to build,” said HUD Secretary Scott Turner. “We are cutting outdated requirements, reducing costs and delays, and putting FHA financing back to work to support housing production and improve home affordability for American families.”
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