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The
Participating Administrative Entities' (PAEs') Portfolio Restructuring
Agreement (PRA) and its related documentation are available in pdf
format and can be downloaded below. The most recent Amendment to
the PRA was produced in March 2007 (listed below):
The
PAEs play a central role. They are responsible for administering
the Mark-to-Market program at the project level and for coordinating
processing of the restructuring commitment with FHA underwriting
guidelines if a Section 223(a)(7) or other type of FHA insured loan
is used to facilitate the restructuring transaction. Their duties
include eligibility screening, data collection and due diligence,
underwriting, responding to appeals, managing the closing process,
and engaging in certain post-closing asset management activities.
PAEs
have been selected by HUD through a qualifying process, which drew
upon state and local housing finance agencies and for-profit and
nonprofit entities with experience in multifamily housing finance.
Comments,
questions and concerns should be discussed with the projects
PAE.
Public
Participating Administrative Entities
Public
PAEs are comprised of state and local housing finance agencies selected
in January 1999 upon completing the qualifying process. A
copy of the Portfolio Restructuring Agreement (PRA) can be downloaded
above.
Non
Public Participating Administrative Entities
Non
public PAEs are nonprofit and for-profit entities contracted by
OAHP to perform restructuring on eligible properties in the states
not within the state and local housing finance agencies' authorized
jurisdictions. Eligible Non Public PAEs are contracted by OAHP after
a bidding process for eligible M2M property assignments. Scroll
down for a list of all the contracted PAEs. A
copy of the Portfolio Restructuring Agreement (PRA) can be downloaded
above.
Resources
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Frequently
asked questions regarding Conflict of
Interest (COI) |
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The
Final Report on Compliance Audits and Agreed-Upon Procedures Reviews
of Participating Administrative Entities is now available in pdf
and Word
format (March 31, 2004) |
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