On December 21, 2010 HUD issued a notice seeking final comments on proposed changes to the multifamily mortgage insurance program’s closing documents. As part of a broad coalition, NAA/NMHC have previously submitted detailed comments on the proposal and have worked closely with HUD’s legal counsel over the last year on this issue.
If approved, the proposed document changes would require additional borrower liability and would increase the cost of legal review. All documents and the proposed changes are available here. NAA/NMHC invite comments from members for forwarding to HUD no later than January 13; final comments are due to HUD by January 21.
View the details here