HUD ISSUES FHA MULTIFAMILY RENTAL CLOSING DOCUMENTS FOR COMMENT

Thursday, January 21, 2010 - 8:00AM

In today’s Federal Register, the U.S. Department of Housing and Urban Development (HUD) announced that it was issuing for public comment a comprehensive set of revised closing documents for use in Federal Housing Administration (FHA) multifamily rental projects. Today’s notice starts anew the process for updating the multifamily rental project closing documents that originally began in 2004. In revising these forms, HUD says it identified language and policies that were outdated and needed to be changed to be consistent with modern real estate and mortgage lending laws and practices. By reflecting current terminology and current lending laws and practices, HUD says the updated multifamily rental project closing documents will better protect and benefit all parties involved in these transactions. The multifamily closing documents are posted on HUD’s web site here.

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