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Over 20,000 multifamily housing program participants are required to submit annual electronic financial statement data to HUD for assessing the financial condition of multifamily housing sites. On Feb. 14, 2014, the Real Estate Assessment Center updated its Financial Assessment Sub-System to allow profit-motivated and limited distribution owners receiving less than $500,000 in federal financial assistance to submit owner-certified financial statements instead of audited financial statements. This change was made in accordance with Housing Notice H2013-23.
