The Department of Housing and Urban Development (HUD) announced that the planned transformation of its multifamily housing group is moving ahead with one key change—for now asset management employees will continue to operate in existing offices around the country.
The plan remains otherwise unchanged. The transformation will still incorporate the four components originally announced:
- Workload sharing;
- The underwriter model in production;
- The account executive model In asset management;
- And, streamlining operations by moving to a five-region model, with each region have one hub office and one or two core satellite offices.
“There are a lot of details to be worked out before the changes will take place, but we want to be clear about what this does and does not mean for Asset Management staff in the field,” says a HUD update. “While employees in consolidating offices who are not part of Asset Management will receive a reassignment to a hub or core satellite office, Asset Management employees will have the choice to remain in place.”
HUD says the move comes “in the wake of express direction from Congress.”
Affordable Housing Finance reported on the restructuring plan last year.