4.4.2 Processing

A. Under the direction of the MF Regional Director, Production Division Director, and Underwriter Branch Chief, the HUD Underwriter is responsible for the oversight and performance of the following tasks:

1. Concept meetings and follow-up communication;

2. Reviewing of proposed MAP Lender and Underwriters;

3. Working with the Workload Distribution Lead for the Region and other appropriate officials in managing workload assignments for new applications;

4. Acknowledging receipt of the application;

5. Ensuring the screening of applications for completeness, and fiscal controls for new application submissions;

6. Using the New Early Warning System (NEWS) to determine what level of Underwriter and technical specialist review is required given the complexity and risk factors associated the transaction;

7. Performing technical reviews of Lender underwriting and third-party reports, or arranging for HUD technical specialist reviews for higher risk or more complex transactions when needed;

8. Consulting with and obtaining reviews from Asset Management, Legal, Labor Relations, Economic and Market Analysis Division (EMAD), Fair Housing and Equal Opportunity (FHEO), and other HUD staff as appropriate depending on the program requirements and particular transaction features; recommending transactions for loan approval (or rejection);

9. Determining whether there are any open referrals to HUD’s Departmental Enforcement Center (DEC) relating to the Project, the Borrower and/or the proposed Management Agent; and working with the DEC to resolve the open DEC referrals either prior to, or in tandem with, closing;

10. Preparing and issuing Pre-application Invitation letters and Firm Commitments;

11. Coordinating the closing process with the RC Director (or their delegate), OGC, the Lender, and Borrower’s team; and

12. Coordinating with Asset Management in turnover of files, briefing about conditions of the Firm Commitment, and providing information necessary for Asset Management’s risk rating of the transaction.

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Chapter 4 Application Processing 4.4 HUD Processing

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