Multifamily Housing Development Collateral Underwriting & Environmental Review, U.S. Department of Housing and Urban Development, Philadelphia, PA (1999-2005)(Official title: Multifamily Appraiser)

During my six years at HUD, I performed collateral underwriting on totals of over $200 million of multifamily housing grants and $100 million of restructuring/refinancing of multifamily housing mortgage insurance projects. My work included:

  • Compliance determinations for site, land use, regulatory, valuation and environmental criteria;
  • Negotiations with housing developers, planners, engineers, consultants, outside counsel and state environmental agencies;
  • Review of complex multifamily housing and land appraisals;
  • Recommendations of product acceptance or rejection.

HUD was tasked with implementing a new law limiting the amount of subsidy the Agency could provide to a subsidized multifamily housing development

  • The HUD HQ Team Leader asked me to join her HUD-industry working team that was tasked with creating a workable Rent Comparability Study policy Notice.
  • I contributed the review procedures that I had used in the field and the team collaboratively worked to create the published RCS appraisal format that is now Chapter 9 of the HUD Section 8 Renewal Policy guidebook.
  • By obtaining guidance and suggestions from the Appraisal Foundation and negotiations with state-level appraisal regulators through the Association of Appraisal Regulatory Officials (AARO), I resolved an ensuing supremacy doctrine issue. 

I often prepared and presented training and guidance materials for in-house staff, fee appraisers, housing grant sponsors and other development professionals in both formal appraisal education classes, as well as through informal peer training.  My writings at HUD included: responses to Freedom of Information (FOIA) requests; drafting correspondence responses for the Regional Director and other senior managers; and writing grant denial letters and appeal responses (which were always upheld).