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Nation-wide Closings for OMHAR

Office of Multifamily Housing Assistance Restructuring
Formed pursuant to the Multifamily Assisted Housing Reform and Affordability Act of 1997, the Office of Multifamily Housing Assistance Restructuring (“OMHAR”), is an arm of the United States Department of Housing and Urban Development. OMHAR provides incentives to owners of multifamily housing developments that are FHA-insured and have Section 8 Contracts, for the refinancing of the developments through its Mark-to-Market program. OMHAR’s goal is to provide a “win-win” result for both the owners of multifamily properties and HUD, by restructuring both the monthly financing payments made by the owners, and the amounts paid by HUD to the owners through the Section 8 contracts.

St. Charles Title Corporation has provided coordinated title and escrow services for OMHAR refinancings in the states of Oklahoma, Texas, Arkansas, Louisiana, Mississippi, Alabama, Tennessee, Georgia, West Virginia and Ohio.


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