A.8.3.3 Signatures for Prior Approval Decisions

A. HUD Headquarters’ Technical Support Division will review risk applications and the credit authority to approve decision memorandums will be based upon the requested unpaid loan balance. The signature(s) on the decision memorandum for risk reviews will be based upon the level of exposure. Risk reviews approved:

1. Below $800 million are to be conducted by the Technical Support Division and the signature for each decision memorandum may be signed by the Director of Technical Support.

2. Exceeding $800 million but less than $1.2 billion are to be jointly reviewed by the Technical Support Division and the Multifamily Asset Counterparty Oversight Division (COB). The decision memorandum and approval amount are jointly approved and signed by the Deputy Assistant Secretary for Multifamily Programs and the Deputy Assistant Secretary for the Office of Risk Management and Regulatory Affairs (ORM). In the event of a disagreement on an approval, the Borrower’s request and review will be elevated to the FHA Commissioner or his or her Designee for decision.

3. Exceeding $1.2 billion are to be jointly reviewed by the Technical Support Division, COB, and ORM with the signature of the decision memorandum and approval authority reserved to the FHA Commissioner or its Designee.

4. Exceeding $2.4 billion will be subject to additional levels of review and approval with the signature of the decision memorandum and approval authority reserved to the FHA Commissioner or its Designee.