HUD submitted a notice in the Federal Register requesting comments on technical processing requirements for multifamily project mortgage insurance. HUD analyzes four technical discipline phases of an application for mortgage insurance—underwriting, valuation, architectural, and mortgage credit analysis in processing a mortgage. HUD performs each phases during the application process to ensure the financial, physical, and environmental soundness of the project, as well as the potential insurance risk. Sponsors, mortgagors and contractors are required to undergo a thorough examination to determine their solvency, reliability, past experience, and dependability to develop, build, and operate the type of multifamily housing project they propose. Interested persons are invited to submit comments regarding this proposal through October 28, 2013.
Click here to read the Federal Register Notice