19.5.8 Lender’s Certificate for New Construction or Substantial Rehabilitation

A. For new construction/substantial rehabilitation projects, the Lender must make certain certifications and acknowledgements to HUD, as set forth in the Lender’s Certificate (form HUD-92434M), dated as of the day of closing. As required by the Lender’s Certificate, the Lender must:

1. Make all required certifications and acknowledgements to HUD;

2. Properly disclose all required escrows, deposits, fees, charges, and financial obligations; and

3. Attach, or provide separately, all appropriate exhibits, addenda and related items, including but not limited to exhibits described in the Lender’s Certificate .

B. The RC Director is responsible for reviewing the Lender’s Certificate and determining that the financial amounts disclosed are appropriate and correct.