Earlier this year, the Federal Housing Administration (FHA) released a revised Multifamily Accelerated Processing (MAP) Guide with an effective date of May 28, 2016. The revised guide is meant to streamline the loan application process and increase consistency across the program. It also allows greater underwriting responsibility to approved MAP lenders.
But what does the revised MAP Guide hold for FHA borrowers? And how will the revisions impact FHA financing for affordable housing moving forward?
On Wednesday, June 15, join our panel of former HUD FHA attorneys and FHA lenders’ counsel for an overview of the revisions and what they mean for FHA borrowers. The panel will highlight changes in the MAP Guide that may be of particular interest to borrowers including:
– Opportunities for reduced mortgage insurance premiums (MIP)
– Changes to equity holdback requirements
– New substantial rehabilitation thresholds for refinances
– Revised requirements for FHA projects using low-income housing tax credits (LIHTC)
– New elderly housing requirements.
Nixon Peabody partners Monica Hilton Sussman (former HUD Deputy General Counsel) and Patrice Harris (former Assistant General Counsel at HUD headquarters and FHA Closing Counsel in Chicago HUB) will provide commentary throughout the program.
Speakers also include:
Edward Campbell, Associate
Susanna Mitchell, Associate
Dana Roper, Associate
Alex Rosso, Associate
Monica Hilton Sussman, Partner
Patrice Harris, Partner
To register for the event, please click here.