HUD 223(a)(7) Application Requirements Checklist

Exhibits Required For Application For Firm Commitment

  1. Transmittal letter.

  2. Narrative Summary and Underwriting Recommendation

  3. Form HUD-92013 “Application for Multifamily Housing Project” with application fee.

  4. Form HUD-92013 – Supplement with information on the Sponsor and Mortgagor entity for entities required to pay federal income tax..

  5. Form HUD 92013-E, Supplemental Application and Processing Form (Housing for the Elderly/Disabled). (If applicable.)

  6. Completed Project Analysis.

  7. Disclosure of any identity of interest between sponsor and lender.

  8. Byrd Amendment (Lender & Borrower lobbying certification & disclosure). See 24 CFR Part 87.

  9. Property Capital Needs Assessment: Physical Inspection Report, detailed list and cost estimates for critical and non-critical repairs and improvements, and estimate for Replacement Reserve Deposits. (See Chapter 18 for guidance regarding the use of an existing PCNA.)

  10. Lenders Review of PCNA Report.

  11. Current certified rent roll and rent rolls for the previous six months.

  12. HAP contract, if applicable.

  13. Occupancy history, by quarter for last three years.

  14. A current title report which discloses all liens and encumbrances.

  15. Audited balance sheets and operating statements for the last three years. If the prior year’s financial statements have not been audited, reviewed unaudited year-end statements certified by the borrower are acceptable.

  16. Year-to-date financial statements. May be unaudited, but must be certified.

  17. A survey affidavit confirming existing survey is correct or a new survey if changes have occurred.

  18. Lead-based paint test report and certification if LBP was previously abated if project was built in 1978 or earlier.

  19. Certified statement by borrower listing all outstanding obligations on project.

  20. Deed of Trust Note or Mortgage Note.

  21. Statement of escrow balances, signed by the borrower and lender as being true and correct.

  22. Evidence of prepayment approval (Form 9807) or evidence of request from lender for approval.

  23. Identification of two principals to sign for Regulatory Agreement Provision #50.

  24. Disc or removable drive of the underwriting file, exhibits and third party reports.

Taken from the Appendix 4 Application Processing Documents; Subsection H. Section 223(a)(7) Application Requirements.