19.4.10.9 HUD-Required Language for Trust Indenture/Funding Loan Agreement

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. The trust indenture/funding loan agreement must include the language required by 24 CFR 207.261. This required language obligates the bond trustee/fiscal agent to return certain excess funds held in bond accounts to the FHA Lender in the event of an FHA mortgage insurance claim. The HUD Closing Attorney will collect the trust indenture/funding loan agreement and conduct a limited review to confirm the inclusion of the required regulatory language and the primacy of HUD’s requirements in the event of a conflict. See Section 19.4.10.12, below.

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Chapter 19 Closing Guide 19.4 Document and Diligence Requirements

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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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