Today, HUD hosted a focus group of nearly a dozen key stakeholders to gain insights about the RAD process. I had the opportunity to participate in the sessions along with housing authority representatives, lenders, investors, private developers, financial advisors and other consultants. Discussion questions explored issues extending from the RAD application process through to post-closing implementation of the RAD conversion. With the cap on the maximum number of units permitted to go through the RAD conversion process raised to 185,000, HUD is now faced with the significant task of ensuring the initial procedures for processing and closing RAD deals can be streamlined and implemented in an efficient manner that imposes consistency across transactions.

Facilitated by members of the Enterprise team, the discussions considered positive elements of the RAD process, as well as areas in which HUD could make improvements. Notetakers from HUD did not participate in the discussions, but sat in on the sessions to record insights and suggestions.

HUD will host additional focus groups in the next few weeks in other parts of the country, including Atlanta and Los Angeles. The outcome will hopefully generate procedures that address issues and concerns that have arisen thus far in closing RAD deals.