On August 28, HUD released the final version of its Subordination Agreement for junior mortgages originated under the Green Retrofit Program for Multifamily Housing (GRP).  HUD program and legal staff developed this document in collaboration with NCSHA and state HFA staff that had raised concerns with aspects of the GRP’s program guidance.  The Subordination Agreement clarifies the roles of HUD and state HFAs which are the primary lenders to properties benefiting from the GRP, making it easier for HFAs to participate in the program and for uninsured properties to undergo the energy retrofit process.