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Mott Smith
mottsmith.bsky.social
did:plc:5lxkawzwyuda3gpsm43metzz
1. Unlike most "soft money," ULA requires its affordability covenants to be senior to the 1st mortgage. This isn't unheard of, but it's unusual.
2. ULA projects can only be sold to nonprofits (a big problem for banks)
3. The AMIs are strict and can't "float up" in the event of foreclosure
2025-09-08T01:35:48.303Z