19.5.9.3 Modifications to Original Loan Terms
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. Modifications to the original Loan terms, such as an increase or decrease to the original Loan amount, require new documents, and must be submitted with the final closing package.
MAP Guide, March 2021 Go to beginning of Chapter 19
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Chapter 19 Page 19-68
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Chapter 19 Closing Guide 19.5 Additional Requirements for Insurance of Advances
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RC Director’s Authority. The RC Director is authorized to approve modifications of the Security Instrument for Projects in development ( i.e., at or prior to Final Closing) where necessary to reduce the interest rate, reduce the mortgage Loan amount, correct the legal description, and for other purposes.
HUD Closing Attorney’s Role. The HUD Closing Attorney will review proposed modifications to Loan documents and provide a written statement, which may be via e-mail, to determine whether the documents are legally sufficient.
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