4.2.2.3 Invitation Letters

A. If an invitation letter is issued, the Lender must advise HUD in writing within 30 calendar days if it plans to submit a Firm Commitment application. If it fails to notify HUD, the invitation letter will expire, and the Lender will be required to repeat the Pre-Application process. Letters of invitation are issued and effective for 120 calendar days.

B. The application for a Firm Commitment must be submitted within 120 days of the date of the letter of invitation. The Regional Director may or may not authorize one extension up to 90 days. The HUD Underwriter will review the Lender’s extension request.

C. If there is a justifiable request by the Lender for an extension of time beyond the time period allowed (210 total days), the Regional Director must request approval for a further extension from the Director of the Office of Multifamily Production in HQ, stating the additional time requested, the Regional Director’s recommendation and the reasons for the extension.