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Financial Reporting

Financial Reporting Requirements from HUD

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Download Filing Instructions

Request for Audited Financial Statements

Every year, multifamily and healthcare borrowers must file with HUD an annual audited financial statement (AAFS) within ninety (90) days following the end of the borrower’s fiscal year.

Statement Filing Instructions

Within 90 days of fiscal year end

  1. Visit HUD’s online Real Estate Assessment Center (REAC)
  2. Upload an electronic version of your annual audited financial statement (AAFS) to REAC
  3. Submit a paper or electronic copy (preferred) to Love Funding by the applicable due date:
    • Electronic copies should be emailed to: financialstatements@lovefunding.com
    • Paper copies should be mailed to:
      Love Funding Corporation
      Attn: Asset Management
      45 N Fourth Street, Suite 100
      Columbus, OH  43215

 

Additional Requirements for Healthcare Operators

Starting with the 1st quarter of 2015, HUD announced Healthcare financial reporting requirements:

Operators of healthcare facilities financed under Section 232 of the National Housing Act (Section 232 Program) must submit to HUD and to Love Funding, on a quarterly basis, financial reports relating to facility operations.

Healthcare Financial Reporting Instructions

On a quarterly basis, certified financial statements must be prepared by the chief financial officer of the facility and submitted electronically to Love Funding at the following email address: financialstatements@lovefunding.com

  • Financial statements must include a balance sheet, income statement and rent roll/census. Click here for a sample balance sheet and income statement.
  • Certified statements can be produced to report monthly, quarterly or annual results and must be cumulative for the period covered
  • Love Funding is responsible for verifying facility information and providing quarterly financial reporting to HUD. Please complete and include facility and financial information (click here to download the form) with each quarter’s submission. Note: Actual Number of Resident Days must be included
  • For more information regarding HUD’s required certification language, click here

Deadlines

All quarterly reporting is due no later than sixty (60) days after the end of the period covered and no later than ninety (90) days after fiscal year end. In order to meet HUD’s deadline for Q4 2016, please submit financial reporting to Love Funding no later than March 30, 2017.

Additional Information

HUD has provided more information about the new financial reporting requirements on the HUD website.
Click here to learn more: www.HUD.gov

Questions?

Tina Pelton
tpelton@lovefunding.com
(202) 591-3682

Please provide your contact information below so that we may send you additional information about HUD’s financial reporting requirements.

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Questions/Comments

MULTIFAMILY and HEALTHCARE borrowers must file with HUD an annual audited financial statement (AAFS) within ninety (90) days following the end of the borrower’s fiscal year.

Using the form on this page, please submit questions and provide your contact information so Love Funding can send you additional information.

Contact Us

Love Funding Asset Management
844.344.LOVE
financialstatements@lovefunding.com