FHA Issues Revised MAP Guide

February 3 2016 | News

On February 1, 2016, the Federal Housing Administration (FHA) published the revised Multifamily Accelerated Processing (MAP) Guide to assist lenders on underwriting all FHA-insured multifamily housing construction and rehabilitation transactions. To access the updated guide, please click: FHA’s Revised MAP Guide. A link is also available on the NAHMA webpage.

According to FHA, “the MAP Guide is intended to cut the time required to approve loan applications and to assure consistent application of program requirements and credit standards across all HUD processing offices. While all provisions of this new MAP Guide will become effective for all applications for FHA multifamily mortgage insurance received after May 28, 2016, FHA has the authority to approve transactions that incorporate the new policies immediately for projects with Firm Commitments issued or reissued after date of publication.”

To aid industry implementation of the new MAP Guide, FHA will hold conference calls and training with stakeholders (MAP lenders, mainly) to highlight changes from current practice, and address questions. You can access the press release here.

FHA Issues Revised MAP Guide

site by Compucast Web, Inc.