The Mark-to-Market Program
The Mark-to-Market program was established by the Multifamily Assisted Housing Reform
and Affordability Act of 1997 as a process for restructuring multifamily properties
insured by the Federal Housing Administration (FHA) when their contracts expire. It
is overseen by the Office of Multifamily Housing Assistance Restructuring (OMHAR), a
division of the Department of Housing and Urban Development (HUD).
The overall goal of the program is to reduce federal spending on housing subsidies by
making it financially feasible for multifamily properties currently charging rents greater
than comparable market rents to survive and offer quality, market-competitive housing at
comparable market rents. As part of this process, eligible properties work with a
Participating Administrative Entity (PAE), usually a housing authority or state housing
finance agency, to identify appropriate market rent, identify improvements necessary
for the property to be competitive in the marketplace, and identify methods of
restructuring the finances of the property in order to make operating at comparable market
rents financially feasible.
Properties with expiring subsidy contracts are eligible for the program if they meet
all of the following requirements:
- Multifamily housing (4 or more units)
- One or more FHA-insured or HUD-held mortgages (except Section 202 or if financed by
state/local government)
- Receives project-based assistance (Section 8 contract)
- Project-based rents exceed comparable market rents
- Owner is in good standing
More on The Mark-to-Market Process
A detailed examination of the process
Danter Company Services for Mark-to-Market Candidates
How the Danter Company can help you identify
the most accurate comparable market rent for your property and other services we can
provide to enhance the process
List of Participating
Administrative Entities (PAEs)
As updated weekly by HUD in PDF format
Mark-to-Market Links
Sites for additional information on the
Mark-to-Market program
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