HUD Invites Comments on Mortgage Insurance Application for Multifamily Housing Projects
The U.S. Department of Housing and Urban Development (HUD) today invited comments on the mortgage insurance application for multifamily housing projects, specifically the requirements for professional liability insurance for Section 232 programs. HUD says the information from sponsors and general contractors, and submitted by a HUD-approved mortgagee, is needed to determine project feasibility, and mortgagor/contractor acceptability. In addition, documentation from operators/managers of health care facilities is also required as part of the application for firm commitment for mortgage insurance. HUD analyzes financial data, cost data, drawings, specifications and other documentation to determine whether the proposed project meets program requirements for mortgage insurance. Today’s revision includes changes and additional Exhibits to Section K of Form HUD-92013-NHICF. Click here for details.