Final Regulations Issued for MAP Quality Assurance Enforcement

摘要

HUD has issued final rules to establish policies and procedures for quality assurance enforcement under the FHA multifamily accelerated processing (MAP) program. The rules were published in the July 26 Federal Register and go into effect on August 25. HUD made no changes in the proposed rules published last December 17. (For background, see Current Developments, Vol. 33, No. CD-1, p. 19.) The MAP program provides for fast-track processing of multifamily loan applications by qualified lenders. To protect the FHA insurance fund, the regulations will set up an accelerated process for review of a lender's actions and the means to act quickly to correct violations.