HUD has issued a 60-day Federal Register notice to commence the Paperwork Reduction Act (“PRA”) notice and comment renewal process for the Multifamily Rental Closing Documents set to expire this year (2017), which fall under OMB approval no. 2502-0598. The Notice can be accessed from the following link: https://www.gpo.gov/fdsys/pkg/FR-2017-09-05/pdf/2017-18742.pdf.
This website presents the revised Closing Documents in redline/strikeout format against the existing Closing Documents (2014) so that industry participants and interested members of the public can identify the proposed changes to the documents. As described in the Federal Register notice, there is a newly proposed Subordination Agreement to be used for private secondary lenders, and the two separate Residual Receipts Notes are proposed to be combined into one form. Please follow the procedures described in the Federal Register notice to submit comments on any of the Closing Documents to HUD.
NOTE: The documents published below are not to be used for any closings-this posting is for informational purposes only in accordance with the PRA.