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HUD requires many owners of nonprofit and limited-dividend sites with HUD-insured and HUD-held mortgages, including Section 202 program sites, to set up residual receipts accounts. Generally, all sites owned by nonprofit mortgagors and all Section 236 and 221(d)(3) projects owned by limited distribution (LD) mortgagors as well as Section 8 New Construction/Substantial Rehabilitation projects subject to the 1979/80 revised Section 8 regulations are required to establish a residual receipts account.
