14.17 Mark to Market (M2M) Transactions

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States

A. Owners may receive an Incentive Performance Fee (IPF), and this is paid before the 25%/75% split is calculated. Thus, the IPF is paid first and may be realized in addition to the owner’s 25% of surplus cash. M2M also obligates the owner to use the full 75% of surplus cash to pay down the program’s secondary M2M loans. Accordingly, in M2M transactions the payment of syndicators’ and investors’ fees must be limited to the 25% that is not committed for loan repayment.

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▸Contents — HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

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