About Conversion Ledger

Conversion Ledger is independent. It is not affiliated with, endorsed by or acting for HUD, FHA, the RAD Resource Desk, any housing authority or any government agency. To apply for or manage a RAD conversion, use HUD’s RAD Resource Desk and hud.gov.

Conversion Ledger is operated by Janover Capital LLC, a commercial mortgage capital markets advisory firm at 6401 Congress Ave., Ste. 250, Boca Raton, FL 33487. HUD runs RAD through a website, a set of notices and a few spreadsheets, and the information a housing authority’s board or a development partner needs is spread across all of them. Which PHAs nearby have converted? Did they choose PBV or PBRA? How did they pay for it? What would our remaining projects rent for under RAD this year?

This site puts those answers on one page per housing authority, from HUD’s own data, with the dates on every figure.

What we are and aren’t

We are not HUD, the RAD Resource Desk, a housing authority or a law firm, and nothing here is endorsed by any of them. The data is HUD’s; the groupings, plain-English summaries and debt sketches are ours. Nothing on this site is legal advice, an offer to lend or a commitment. Janover Capital arranges commercial-purpose financing; it is not a bank or a direct lender. When you send a deal through the inquiry form, it goes to Janover Capital and no one else, and a person there replies.

How the data is kept current

Conversion records come from the RAD Resource Desk’s public export, which is live; we download it and rebuild the site. HUD updates its RAD rents tool about once a year. About the data lists every source, its date and what it leaves out.

Corrections

If a conversion is missing or wrong, it is usually missing or wrong in HUD’s data too, but we will note it. Write to hello@rad.loans with the PIC number.