19.4.10.7 Bond Counsel’s Opinion

A. In bond financed transactions, HUD requires submission of a bond counsel’s opinion attesting to enforceability of the bonds, and the tax-exempt status of the bond financing (if applicable). The HUD Closing Attorney will review the bond counsel opinion on a limited basis to confirm the inclusion of these required confirmations. Additionally, when Borrower’s counsel relies on the bond counsel’s opinion in providing Opinion of Borrower’s Counsel opinion 10, bond counsel must use the Opinion of Borrower’s Counsel definitions of Primary Loan Documents and Source Documents in providing opinion 10. HUD does not require the bond counsel’s opinion to be addressed to HUD or name HUD as a party relying on the opinion.