19.4.10.1 General
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. All private activity volume cap financing associated with an FHA-insured Project, whether new or previously issued, must be disclosed at the time of firm application and memorialized in the Firm Commitment. This financing may be structured as traditional private placement bonds, or as a tax-exempt loan, provided that the obligation arises from the allocation of a state’s private activity volume cap.
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