Real Estate Assessment Center
HUD created the Real Estate Assessment Center (REAC) to centralize the assessment of all HUD housing. Its mission is to improve housing quality and assure the public trust by providing accurate, credible and reliable assessments of HUD’s real estate portfolio. It does this through physical inspections and financial assessments. REAC’s financial assessment of multifamily housing programs is performed on the projects financial information electronically submitted through the REAC system. This centralized review ensures consistency of financial statement and supplementary information as required by the HUD Audit Guide. In addition, REAC staff performs quality assurance reviews of auditors’ work papers.
