The U.S. Department of Housing and Urban Development (HUD) released new closing documents for the Federal Housing Administration (FHA) multifamily mortgage. The new closing documents are required for mortgages that receive a firm commitment for mortgage insurance from the U.S. Department of Housing and Urban Development (HUD) on or after September 1, 2011. A borrower may use the older closing documents after September 1, 2011 if the borrower demonstrates to the Federal Housing Administration (FHA) Commissioner that financial hardship would result from use of the updated closing documents.
Below are the federal register notices, as well as the final and redline versions of the documents taken from HUD’s website:
Federal Register
| May 2, 2011 – Final rule | |
| May 2, 2011 – Notice |
Closing Documents
| Assignment of Rents and Security Agreement PDF Final – PDF Redlined | |
| Note PDF Final – PDF Redlined | |
| Regulatory Agreement MF projects PDF Final – PDF Redlined | |
| Lender’s Certificate PDF Final – PDF Redlined | |
| Building Loan Agreement PDF Final – PDF Redlined | |
| Building Loan Agreement Supp PDF Final – PDF Redlined | |
| Construction Contract PDF Final – PDF Redlined | |
| Construction Contract Supp PDF Final – PDF Redlined | |
| Guide for Opinion of Counsel PDF Final – PDF Redlined | |
| Counsels Opinion Instructions PDF Final – PDF Redlined | |
| Exhibit A – Counsels Opinion PDF Final – PDF Redlined | |
| Residual Receipts Note Nonprofit Mortgagor PDF Final | |
| Residual Receipts Note Limited Dividend Mortgagor PDF Final | |
| Escrow Agreement for Incomplete Construction PDF Final – PDF Redlined | |
| Request For Final Endorsement PDF Final – PDF Redlined | |
| Lease Addendum PDF Final – PDF Redlined | |
| Surplus Cash Note PDF Final | |
| Completion Assurance PDF Final – PDF Redlined | |
| Payment Bond PDF Final – PDF Redlined | |
| Performance Bond Dual Obligee PDF Final – PDF Redlined | |
| Surveyors Report PDF Final – PDF Redlined | |
| Survey Instructions Report PDF Final – PDF Redlined | |
| Request Approval Advance of Escrow Funds PDF Final – PDF Redlined | |
| Escrow Agreement Noncritical Deferred Repairs PDF Final – PDF Redlined | |
| Additional Funds Agreement PDF Final – PDF Redlined | |
| Operating Deficit Escrow PDF Final – PDF Redlined | |
| Sponsors Bond PDF Final | |
| Offsite Bond PDF Final | |
| Latent Defects Escrow PDF Final – PDF Redlined | |
| Working Capital Escrow PDF Final – PDF Redlined | |
| Agreement and Certification PDF Final – PDF Redlined | |
| Request For Endorsement PDF Final – PDF Redlined | |
| Borrowers Oath PDF Final | |
| Subordinate Financing Agreement PDF Final – PDF Redlined |
