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    In a move that is one of the first of its kind for the industry, Mercury Network, an appraisal management system, announced it acquired Platinum Data Solutions, a QC technology company. In light of the changes, HousingWire talked with Will Clemens, CEO of Mercury Network, and Phil Huff, CEO of Platinum Data, to see how the change fits perfectly into both of the companies.

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HUD provides $14.8 million for senior housing

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The U.S. Department of Housing and Urban Development provided $14.8 million to preserve affordable rental assistance for elderly tenants living in subsidized properties through its Senior Preservation Rental Assistance Contracts.

The program is targeted for properties in HUD’s Section 202 “Supportive Housing for the Elderly” program and helps support affordable rent for seniors living in more than 1,700 units located in 12 properties in six states.

Without interventions like SPRACs, HUD estimates that maturing mortgages will signal the elimination of affordability protections for approximately 19,000 low- and very-low income seniors.

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