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HUD Issues Updated Guidance on FHA Workout Related Multifamily Transactions

by Published On: Sep 21, 2012

Revisions to the Asset Management and Project Servicing Handbook 4350.1, REV-1, Chapter 14, which provides guidance on FHA workout related multifamily transactions, were published in September 2012. 

Chapter 14 provides guidance regarding 3 types of FHA workout related multifamily transactions: 

  • Partial Payments of Claims used to avert a full claim when an FHA-insured, loan generally involving a market-rate multifamily project goes into default due to circumstances determined to be beyond the Owner’s control.

  • Restructuring of HUD-Held Loans formerly FHA-insured first mortgages that have been acquired by HUD in the course of an assignment for full insurance benefits.

  • Modifications of  defaulted FHA-insured loans to accommodate refinancing.

2012-09-25
 



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