B. Lender’s Introductory Response and Interim Communication:

1. Lender must respond to the assigned RC Director in writing to provide the information requested in the introductory letter. The RC Director will distribute the Lender’s response to the relevant staff within MHP and OGC.

2. If Lender requests a preferred closing date that is within 60 calendar days, OGC and the RC Director will review the information provided and mutually agree upon a Tentative Closing Date.

3. The Tentative Closing Date is preliminary, established only to manage expectations, and may be changed by HUD if Lender or Lender’s Counsel fails to adhere to the review times prescribed in this

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Chapter 19 Closing Guide 19.1 General Loan Closing Procedures

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Chapter, including timely submission of a complete draft closing package and response to HUD comments. Additionally, any Tentative Closing Date remains subject to rescheduling by HUD due to exigent circumstances.

4. HUD will not transition from a Tentative Closing Date to a confirmed closing date until the RC Director and HUD Closing Attorney approve a substantially complete draft closing package, as set forth below.

5. If a Tentative Closing Date is set, OGC will assign a HUD Closing Attorney that is available for the Tentative Closing Date.

6. If a Tentative Closing Date is not set, OGC will maintain a Point of Contact for the convenience of all parties, and assign a HUD Closing Attorney when Lender submits the draft closing package to the RC Director.

7. OGC will endeavor to provide continuity by assigning the same HUD Closing Attorney for closing review that was assigned for any early legal review. The assignment of the HUD Closing Attorney remains within the discretion of OGC and may be adjusted, for example, where the workload of an individual attorney or an OGC office precludes assignment of the same attorney or office. Where a change in the attorney assignment occurs, OGC will advise all relevant parties as soon as possible.

8. The RC Director will promptly notify Lender and Lender’s Counsel of any set Tentative Closing Date and provide contact information for the OGC Point of Contact, or HUD Closing Attorney, as applicable.

C. Preparation and Delivery of Draft Closing Package. Lender’s Counsel is responsible for competently compiling the draft closing package for submission to HUD, which includes reviewing all documentation to correct errors and omissions prior to submission and complying with the document submission standards set forth in Section 19.4.1. To facilitate the HUD Closing Attorney’s review, Lender’s Counsel may provide a written narrative outlining legal issues that will require negotiation or special attention of the HUD Closing Attorney. If any revision is made to a required document after submitting the draft closing package, Lender’s Counsel must promptly email the HUD Closing Attorney to identify the revision(s) made and provide an explanation as to why the revision(s) are necessary or appropriate.

D. Submission Deadlines for Tentative Closing Dates. To maintain a Tentative Closing Date, Lender or Lender’s Counsel must submit a draft closing package to the RC Director at least thirty (30) business days prior to any Tentative Closing Date. The Lender’s failure to submit a draft closing package by this deadline may result in a change to a Tentative Closing Date, at the discretion of the RC Director. The Lender should take into consideration holidays, GNMA delivery schedule, bond closing and tax credit funding deadlines, and other known events that may affect review times.