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19.3.3.2 Application for Insurance of Advance of Mortgage Proceeds

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. When the final advance is in order, Lender and Borrower will execute the completed Application for Insurance of Advance of Mortgage Proceeds.

  1. If all items of on-site construction are complete, the word “None” will appear in the Certificate of Mortgage Insurance (form HUD-92403), in the space provided for the amount of the escrow deposit.

  2. If there are incomplete items of on-site construction, an escrow deposit will be required unless otherwise determined by the RC Director, in accordance with the Escrow Agreement for Incomplete Construction (form HUD-92456M). In addition, an itemized list of incomplete construction items must be attached to the Escrow Agreement for Incomplete Construction and the Application for Insurance of Advance of Mortgage Proceeds. The amount of the escrow deposit required for completion of incomplete items must be typed into the Certificate of Mortgage Insurance portion of form HUD-92403 in the space provided.

  3. On or before Final Closing, the RC Director will deliver one executed original of the Application for Insurance of Advance of Mortgage Proceeds to the HUD Closing Attorney for inclusion in the Washington Docket, one copy for the attorney docket, and any remaining duplicate or original copies to the Lender, each including any attachment listing incomplete items. The RC Director will retain at least one copy of the Application for Insurance of Advance of Mortgage Proceeds for its records.

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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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