Appendix 2 Quality Control Plans and Identity of Interest
Market Weaknesses:
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
⚫ [Type market weaknesses here.]
- [Type mitigants here, if applicable.]
⚫ [Type market weaknesses here.]
- [Type mitigants here, if applicable.]
⚫ [Type market weaknesses here.]
- [Type mitigants here, if applicable.]
⚫ [Type market weaknesses here.]
- [Type mitigants here, if applicable.]
Valuation Narrative: (Discuss all of the following that are applicable for the project type: the land value analysis, cost approach, sales comparison approach, income approach to value [be sure to discuss the income, vacancy, expenses, and capitalization rates in the income approach to value discussion], reconciliation of value, and debt service analysis [be sure to discuss the income, vacancy, and expenses in the debt service analysis discussion].
Furthermore, be certain to discuss any differences between the appraisal and the underwriting, especially in regard to the value and debt service analysis, and provide an indication if the differences in the underwriting are acceptable or not. Also, be sure to discuss tax abatements, ground leases, IOD’s, or any other topic [e.g., remaining economic life] where a concern may exist, if applicable.
Generally, the narrative section should not exceed 1½ pages, the bulleted strength and weaknesses sections should typically contain 2 to 4 bullets, respectively, and reflect the most important value-related strengths or weaknesses.
The objective of the review is to provide a recommendation and provide the insight as to why the recommendation was made, rather than to summarize the appraisal, market study, and/or the underwriting [including the Lender’s narrative].. For example, explain why the rents are acceptable or not acceptable.)
[Type valuation narrative here.]
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