2.2 HUD Approval of Lenders

A. The Lender must prepare the application for approval as a MAP Lender, although there is no prescribed form of this application. The application should be submitted to COB electronically in PDF format.

B. COB must approve each MAP Lender in writing. The names of approved MAP Lenders will be posted on the HUD website at: https://www.hud.gov/sites/dfiles/Housing/documents/aprvlend.pdf

C. COB may disapprove a Lender application on the grounds that: a) it fails to meet the standards set forth in Section 2.3); b) it fails to provide sufficient information required by Section 2.7); or c) there are specified deficiencies that must be corrected. A Lender will not be granted MAP approval if the Lender uses contract Underwriters exclusively. MAP Underwriters must be full time salaried employees and must already be employed by the Lender at the time of approval. An appeal of COB’s decision to disapprove an application, or to impose specific conditions of approval, may be made to the Deputy Assistant Secretary (DAS) for Multifamily Housing.

D. If the MAP Lender’s approval has been terminated, the Lender may not apply for reinstatement for 12 months after termination. See Chapter 15, Section 15.10.G.

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Chapter 2 Lender Qualifications and Practices 2.3 Lender Standards

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E. MAP Lenders that fail to maintain a minimum level of MAP activity, defined as failing to submit either a pre-application package or a Firm Commitment application for a MAP or Section 232 LEAN loan at least once every 12 months, will be terminated from the MAP program for inactivity, in accordance with 24 CFR 200.1520(b).