HUD has released a revised Chapter 14 of the Asset Management and Project Servicing handbook, which is the primary tool used by Field Office Loan Management multifamily staff in carrying out asset management and loan servicing responsibilities in monitoring and assisting owners/managing agents to maintain projects in good physical and financial condition. The revised Chapter 14 covers Partial Payment of Claims (PPCs), Restructuring of HUD held loans, and Modifications of FHA-insured loans. The revised chapter includes updated information about the general characteristics of each type of transaction; describes the application review, approval and appeals process; and closing and post-closing requirements.
Click here to read the updated Chapter 14.
