IMPORTANT HUD PROCESSING CHANGES

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During February meetings with HUD staff we learned that there is a real push to reduce processing times for multifamily loans. HUD is taking a hard look at staff and offices that produce more loans with less staff than those with the reverse statistics. One solution is to use underwriters that so one staff person evaluates the full application and proposes it to a loan committee for the final issuance of the mortgage insurance commitment to the lender.

This is how the health care programs work referred to as the “232 Lean Program”.