[ The latest news for rehabilitation and community development partners]
Rehabilitation Loan Program Procedural Manual Revisions, Program and Process Changes
The Board of Directors has approved revisions to the Rehabilitation Loan Program Procedural Manual. Revisions include program and process changes. The changes will be effective as of September 1, 2020. Some of the substantive changes include the following:
  • Removes the hazard insurance requirement to enable low-income homeowners who lack hazard insurance to access the program;
  • Revises the contractor bid requirement from solicitation of three bids to two bids;
  • Revises procedure for change orders to remove prior approval from Minnesota Housing staff to streamline rehabilitation work;
  • Revises procedure for eligible rehabilitations to remove prior approval from Minnesota Housing staff for certain types of improvements to streamline rehabilitation work; and
  • Revises lead-based paint requirements to be consistent with the Lead-Based Paint Guide for Applicable Single Family Programs that was approved by the Board of Directors in May 2020.
Please review the entire revised Rehabilitation Loan Program Procedural Manual to ensure that your organization is in compliance when processing Minnesota Housing Rehabilitation Loan Program loans. Minnesota Housing staff is hosting a mandatory training on September 16 for all lenders that participate in the Rehabilitation Loan Program. Information regarding the training and registration will be sent to lenders at a later date.
Contact Tonya Taylor at 651.296.8844.
Twitter Facebook LinkedIn
powered by emma
Subscribe to our email list.