On February 1, 2018, HUD released the new CNA e-Tool which consolidates and standardizes various due diligence methods for assessing properties. In the past these have been called physical condition assessments, physical needs assessments, and other terms. All will now be called CNAs, and assessed using the CNA e-Tool.
HUD programs that require the CNA e-Tool:
- Refinance/Acquisition :223(a)(7) & 223(f)
- Substantial Rehab less than gut rehab: 220, 221, 231
- Supplemental Loans: 241(a)
- New Construction or Substantial Rehab (gut rehab): 220, 221, 231
- Mark to Market Restructuring
- RAD without insured mortgage financing
- 10 year update CNAs for assets with insured mortgages
- Partial Payment of Claims or Loan Modifications
- Section 202-811 w/ PRAC assistance, but not an insured mortgage transaction
More programs will be requiring the use of the CNA e-Tool in the future.
OSI can serve as your guide
There are significant changes to the information owners and managers need to collect and provide. Count on the HUD trained OSI Team to assess your property, guide you through the specific changes and assist you through the entire process.
Partner with OSI
Using the new CNA e-Tool will be a learning process for everyone – you can rely on OSI and our 35 years of multifamily assessment experience as your partner in completing the new CNA e-tool.