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HUD Programs and Services:

HUD Background

MAP Guide: Introduction
(Chapter 1 of 7)

"FHA multifamily mortgage insurance began in 1937 and has been a major source of financing for affordable housing since that date. The most recent figures of loans committed show that the FHA insured an average of nearly $4 billion in multifamily and health care facility mortgage loans each fiscal year from 1996 through l999.

HUD processes multifamily loan insurance applications through 51 Multifamily Hubs and Program Centers throughout the nation. In some of these Hubs and Program Centers, the volume of work in recent years created unreasonable delays in processing. Furthermore, Lenders complained that they were unable to get a tentative decision on an application early in the HUD review process.

To achieve faster processing and earlier decisions, the Seattle and Portland field offices (now part of the Northwest/Alaska Hub), followed by other Hubs and Program Centers, developed "fast-track processing" where qualified Lenders had the option of preparing FHA forms and doing preliminary underwriting for certain loan applications. In many Hubs, "Fast-track" processing eliminates the option of having a Site Appraisal and Market Analysis (SAMA) as part of traditional FHA processing. Instead, for new construction and substantial rehabilitation, local "fast-track" programs create a pre-application stage at which the Lender presents certain important elements of its application, including a market analysis, preliminary sketches, and a narrative description of the proposed project. After the pre-application stage, HUD either rejects the Lender's application or invites the Lender to submit an application for a Firm Commitment. The invitation carries with it the assumption that, if the application for Firm Commitment is consistent with the pre-application exhibits, then the commitment will be issued after HUD review.

At the application for a Firm Commitment, the Lender directs the preparation and review of the exhibits required, such as the appraisal, the cost estimate and the final plans and specifications. HUD reviews the application and, if it passes review, issues the commitment.

Approximately 30 of the 51 Hubs and Program Centers are using a form of this "fast-track" processing for some of their loan applications. There are local variations, some of which assign part of the responsibility to the Lender, such as the appraisal, but retain at the HUD office certain other responsibilities, such as the preparation of mortgage credit exhibits. The "fast-track" procedures are not consistent from one Hub to the next. And "fast-track" is not available in many of the multifamily processing offices.

MAP is a form of "fast-track" processing which replaces local "fast-track" processing for the most widely-used FHA mortgage insurance programs."

Guide to Multifamily Accelerated Processing (MAP)

The Multifamily Accelerated Processing (MAP) Guide, originally published May 17, 2000, was revised March 15, 2002. The MAP Guide is approximately 565 pages. You may view or download the entire MAP Guide as a PDF file

Link to HUD Web Site (http://www.hud.gov/offices/hsg/mfh/map/mapguide/mapguide.cfm)

OR…

We have provided a full copy of the MAP Guide on our web site, which is bookmarked. There are particular sections which address the program with which you are involved. We have pulled these sections from the MAP Guide for faster reference.

See References

Mortgage Insurance for Rental Housing for Urban Renewal and Concentrated Development Areas

Section 220 insures loans for multifamily housing projects in urban renewal areas, code enforcement areas, and other areas where local governments have undertaken designated revitalization activities.

Purpose:

Section 220 insures lenders against loss on mortgage defaults. Section 220 provides good quality rental housing in urban areas that have been targeted for overall revitalization. Section 220 insures mortgages on new or rehabilitated housing located in designated urban renewal areas, and in areas with concentrated programs of code enforcement, and neighborhood development.

For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/renturbanhsg220.cfm)

Mortgage Insurance for Rental and Cooperative Housing

Summary:

Sections 221(d)(3) and 221(d)(4) insure mortgage loans to facilitate the new construction or substantial rehabilitation of multifamily rental or cooperative housing for moderate-income families, elderly, and the handicapped. Single Room Occupancy (SRO) projects may also be insured under this section.

Purpose:

Section 221(d)(3) and Section 221(d)(4) insure lenders against loss on mortgage defaults. Section 221(d)(3) is used by not for profit sponsors and Section 221(d)(4) is used by profit-motivated sponsors. Both programs assist private industry in the construction or rehabilitation of rental and cooperative housing for moderate-income and displaced families by making capital more readily available. The programs allow for long-term mortgages (up to 40 years) that can be financed with Government National Mortgage Association (GNMA) Mortgage Backed Securities.

The principal difference between the (d)(3) and (d)(4) programs is the amount of insured mortgage available to non-profit and profit motivated sponsors. Under Section 221(d)(3), nonprofit sponsors or cooperatives may receive an insured mortgage up to 100 percent of HUD/FHA estimated replacement cost of the project. Profit motivated sponsors using Section 221(d)(4) and all types of sponsors under Section 221(d)(4) can receive a maximum mortgage of 90 percent of the HUD/FHA replacement cost estimate.


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/rentcoophsg221d3n4.cfm)

Mortgage Insurance for Purchase or Refinancing of Existing Multifamily Rental Housing

Summary:

Section 223(f) insures mortgage loans to facilitate the purchase or refinancing of existing multifamily rental housing. These projects may have been financed originally with conventional or FHA insured mortgages. Properties requiring substantial rehabilitation are not eligible for mortgage insurance under this program. HUD permits the completion of non-critical repairs after endorsement for mortgage insurance.

Purpose:

Section 223(f) insures lenders against loss on mortgage defaults. The program allows for long- term mortgages (up to 35 years) that can be financed with Government National Mortgage Association (GNMA) Mortgage-Backed Securities. This eligibility for purchase in the secondary mortgage market improves the availability of loan funds and permits more favorable interest rates.


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/purchrefi223f.cfm)

Mortgage Insurance for Nursing Homes, Intermediate Care, Board & Care and Assisted-living Facilities

Summary:

Section 232 insures mortgage loans to facilitate the construction and substantial rehabilitation of nursing homes, intermediate care facilities, board and care homes, and assisted-living facilities. Section 232/223(f) allows for the purchase or refinancing with or without repairs of existing projects not requiring substantial rehabilitation.

Purpose:

Section 232 insures lenders against the loss on mortgage defaults. Section 232 insures mortgages that cover the construction and rehabilitation of nursing homes and assisted living facilities for people who need long-term care or medical attention. The program allows for long-term, fixed rate financing (up to 40 years) for new and rehabilitated properties and (up to 35 years) for existing properties without rehabilitation that can be financed with Government National Mortgage Association (GNMA) Mortgage Backed Securities.


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/nursingalcp232.cfm)

Mortgage Insurance for Supplemental Loans for Multifamily Projects

Summary:

Section 241(a) insures mortgage loans to finance repairs, additions, and improvements to multifamily rental housing and health care facilities with FHA insured first mortgages or HUD-held mortgages.

Purpose:

Section 241(a) insures lenders against loss on mortgage defaults. The program is intended to keep the project competitive, extend its economic life, and to finance the replacement of obsolete equipment. Insured mortgages finance repairs, additions, and improvements to multifamily projects, group practice facilities, hospitals, or nursing homes already insured by HUD or held by HUD. Major movable equipment for insured nursing homes, group practice facilities, or hospitals may be covered by a mortgage under this program.


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/supplement241a.cfm)

Supportive Housing for the Elderly Program

Summary:

HUD provides capital advances to finance the construction, rehabilitation or acquisition with or without rehabilitation of structures that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable.

Purpose:

The Section 202 program helps expand the supply of affordable housing with supportive services for the elderly. It provides very low-income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning, cooking, transportation, etc. The program is similar to Supportive Housing for Persons with Disabilities (Section 811).


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/eld202.cfm)

Supportive Housing for Persons with Disabilities

Summary:

HUD provides funding to nonprofit organizations to develop rental housing with the availability of supportive services for very low-income adults with disabilities, and provides rent subsidies for the projects to help make them affordable.

Purpose:

The Section 811 program allows persons with disabilities to live as independently as possible in the community by increasing the supply of rental housing with the availability of supportive services. The program also provides project rental assistance, which covers the difference between the HUD-approved operating costs of the project and the tenants' contribution toward rent. The program is similar to Supportive Housing for the Elderly (Section 202).


For a more complete description link to Hud Web Site (http://www.hud.gov/offices/hsg/mfh/progdesc/disab811.cfm)

Architectural Processing Services for Section 220, 221 (d)(4), 221 (d)(3), 241(a) — New Construction

Scope of A/E Services for Pre-App Stage:

We will be available as a resource for the Architect while the construction documents are in the schematic stage, with the objective to minimize re-dos after Pre-App, provide guidance to the mortgagor's architect and be available to answer general questions concerning HUD requirements.

Prior to submission to HUD, we will review the preliminary architectural exhibits using the HUD Architectural Review Report for Pre-Application Exhibits - (MAP Guideline Appendix 5L.1).

Note: HUD does not require Architectural Review services at this stage, but, if our services are used properly, it is possible to save time and avoid needless changes once the clock starts.

Scope of Services for the Firm Commitment Stage:

The Architectural and Engineering Report will be completed in accordance with HUD Section 221 (d) (3), 221 (d)(4), and 220 instructions as outlined in the current HUD MAP Guide will include the following:

• Provide ongoing guidance to the mortgagor's architect.
• Keep the design team aware of design development progress in relationship to target dates by utilizing the exhibit list provided by our office.
• Provide liaison between HUD, the owner, the architect, and the general contractor during the development of the construction documents. We will also work with the cost analyst in development of the HUD 92264 and the cost documentation.
• Conduct negotiations.
• Complete detailed review of mortgagor's Architectural and Engineering exhibits.
• Determine that the project design complies with minimum property standards, local codes, the applicable accessibility requirements.
• Visit site and prepare report, including description of the site and color photographs. An inspection shall be made of the site to ascertain it's suitability for the proposed development.
• Maintain processing records.
• Report any deviation from HUD requirements.
• Assure that final drawings and specifications are complete prior to submission to HUD.
• Review experience and qualification of general contractor.
• Consult with technical specialists.
• Provide a preliminary draft of the report to the mortgagee for review and comment prior to the completion of the final report.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.

Deliverables:

• Mortgagor's required Architectural Exhibits.
• Review Report.
• Architectural portions of HUD 92264 and signature.
• Reviewer's Certification.
• Original and four copies of the final report shall be provided to the Mortgagee.
• Copies of files and journal will be available on request.
  

Architectural Processing Services for Section 232 Health Care Facilities — New Construction

Scope of Architectural Services for Pre-App Stage:

We are available as a resource for the Architect while the construction documents are in the schematic stage, with the objective to minimize re-dos after Pre-App, provide guidance to the mortgagor's architect and be available to answer general questions concerning HUD requirements.

Prior to submission to HUD, we will review the preliminary architectural exhibits using the HUD Architectural Review Report for Pre-Application Exhibits - (MAP Guideline Appendix 5L.1).

Note: HUD does not require Architectural Review services at this stage, but, if our services are used properly, it is possible to save time and avoid needless changes once the clock starts.

Scope of Services for the Firm Commitment Stage:

The Architectural and Engineering Report will be completed in accordance with HUD Section 232 instructions as outlined in HUD MAP Guide; dated March 15, 2002 will include the following:

• Provide ongoing guidance to the mortgagor's architect.
• Keep the design team aware of design development progress in relationship to target dates by utilizing the exhibit list provided by our office.
• Provide liaison between HUD, the owner, the architect, and the general contractor during the development of the construction documents. We will also work with the cost analyst in development of the HUD 92264 and the cost documentation.
• Conduct negotiations.
• Complete detailed review of mortgagor's A/E exhibits.
• Determine that the project design complies with minimum property standards, local codes, the applicable accessibility requirements.
• Visit site and prepare report, including description of the site and color photographs. An inspection shall be made of the site to ascertain it's suitability for the proposed development.
• Maintain processing records.
• Report any deviation from HUD requirements.
• Assure that final drawings and specifications are complete prior to submission to HUD.
• Review experience and qualification of general contractor.
• Consult with technical specialists.
• Provide a preliminary draft of the report to the mortgagee for review and comment prior to the completion of the final report.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.
  

Deliverables:

• Architectural Review of the Mortgagor's A/E Exhibits.
• Review Report.
• Architectural portions of HUD 92264 and signature.
• Reviewer's Certification.
• Original and four copies of the final report shall be provided to the Mortgagee.
• Copies of files and journal will be available on request.
  

Scope of A/E Services for Pre-App Stage:

We will be available as a resource for the Architect while the construction documents are in the schematic stage, with the objective to minimize re-dos after Pre-App, provide guidance to the mortgagor's architect and be available to answer general questions concerning HUD requirements.

Prior to submission to HUD, we will review the preliminary architectural exhibits using the HUD Architectural Review Report for Pre-Application Exhibits - (MAP Guideline Appendix 5L.1).

Note: HUD does not require Architectural Review services at this stage, but, if our services are used properly, it is possible to save time and avoid needless changes once the clock starts.

Scope of Services for the Firm Commitment Stage:

The Architectural and Engineering Report will be completed in accordance with HUD Section 232 instructions as outlined in the current HUD MAP Guide will include the following:

• Organize and schedule a inspection of the property and review of the scope of work.
• Prepare a review of the detail scope of work, construction drawings and specifications.
• Complete a Project Capital Needs assessment and Replacement Reserve Report, if required.
• Complete detailed review of mortgagor's Architectural and Engineering exhibits.
• Inspection of the property and report on the current physical condition and scope of rehabilitation.
• Maintain processing records.
• Report any deviation from HUD requirements.
• Assure that final drawings and specifications are complete prior to submission to HUD.
• Review experience and qualification of general contractor.
• Consult with technical specialists.
• Review the major movable list, 232 Projects only.
• Provide a preliminary draft of the report to the mortgagee for review and comment prior to the completion of the final report.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.
  

Deliverables:

• Mortgagor's A/E Exhibits for substantial rehabilitation.
• Review Report prepared by lender's architect.
• Architectural portions of HUD 92264 and signature.
• Reviewer's Certification.
• Original and four copies of the final report shall be provided to the Mortgagee.
• Copies of files and journal will be available on request.
  
  

Scope of Services Cost Services for Pre-App Stage:

• Provide preliminary cost comparison of estimated construction budget as it related to similar projects and preliminary square footage provided by the design Architect.
• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Review the Pre-App exhibits using the HUD Cost Review Report for Pre-Application Exhibits (MAP Guide Appendix 6 - 6A.1)

Note: HUD does not require cost analysis services at this stage, but, if our services are used properly, it should be possible to save time and avoid needless changes once the clock starts.

Scope of Services Cost Services for Firm Stage:

The Cost Analysis Report will be completed in accordance with HUD Section 221(d)(4), 221 (d)(3), and 220 instructions as outlined in the current HUD MAP Guide will include the following:

• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Visit the site with the Review Architect and participate in the Start-up meeting and assist in monitoring the progress of the construction documents.
• Provide guideline for preparing the General Contractor's 2328, along with assistance to the GC during the preparation of the GC's 2328 and 2328 LI.
• Prepare detailed construction cost estimate, including square footage calculation sketches and detail take-off.
• Prepare a cost breakdown, HUD 2326 and 2331 B.
• Review and approve or disapprove Contractor's and/or Mortgagor's Cost Breakdown (HUD Form-92328).
• Review and estimate the Off-Site cost.
• Review the other fees of both the owner and the contractor.
• Resolve differences in our cost estimate and Contractor's Construction Cost Estimate (HUD-923331B).
• Complete cost portions of Project Income Analysis and Appraisal (HUD-92264 Form).
• Prepared Cost Not Attributable and Site Not Attributable Work Sheets.
• Prepare Property Insurance Schedule (HUD-92329).
• Review the Construction progress schedule and the 5372.
• Review and approve or disapprove requests for prior approval of identity of interest subcontractors.
• Review of Identity of Interest and 50-75 Percent Rule Disclosure. Provide a statement confirming this review.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.

Deliverables:

• Detailed Cost Estimate (HUD 92326).
• Cost portions of HUD 92264.
• Property Insurance Schedule (HUD 92329).
• Review and recommend approval/disapproval of Contractor's and/or Mortgagor's Cost Breakdown (HUD 2328).
• Cost Not Attributable and Site Not Attributable Work Sheets.
• Prepare and provide HUD Form 92331B.
• Identity of Interest and 50-75 Percent Rule Disclosure.
• Construction progress schedule and the 5372.
• Provide the Cost Reviewer's certification.
• An original report, plus 4 copies.
  

Scope of Services Cost Services for Pre-App Stage:

• Provide preliminary cost comparison of estimated construction budget as it related to similar projects and preliminary square footage provided by the design Architect.
• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Review the Pre-App exhibits using the HUD Cost Review Report for Pre-Application Exhibits (MAP Guide Appendix 6 - 6A.1)

Note: HUD does not require cost analysis services at this stage, but, if our services are used properly, it should be possible to save time and avoid needless changes once the clock starts.

Scope of Services Cost Services for Firm Stage:

The Cost Analysis Report will be completed in accordance with HUD Section 232 instructions as outlined in the current HUD MAP Guide will include the following:

• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Visit the site with the Review Architect and participate in the Start-up meeting and assist in monitoring the progress of the construction documents.
• Provide guideline for preparing the General Contractor's 2328, along with assistance to the GC during the preparation of the GC's 2328 and 2328 LI.
• Prepare detailed construction cost estimate, including square footage calculation sketches and detail take-off.
• Prepare a cost breakdown, HUD 2326.
• Review and approve or disapprove Contractor's and/or Mortgagor's Cost Breakdown (HUD Form-92328).
• Review and estimate the Off-Site cost.
• Review the Construction progress schedule and the 5372.
• Review the other fees of both the owner and the contractor.
• Review the mortgagor's list of major and minor movables.
• Resolve differences in the our cost estimate and Contractor's Construction Cost Estimate (HUD-923331B).
• Complete cost portions of Project Income Analysis and Appraisal (HUD-92264-HCF Form).
• Prepare Property Insurance Schedule (HUD-92329).
• Review and approve or disapprove requests for prior approval of identity of interest subcontractors.
• Review of Identity of Interest and 50-75 Percent Rule Disclosure. Provide a statement confirming this review.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.
  

Deliverables:

• Detailed Cost Estimate (HUD 92326).
• Cost portions of HUD 92264-HCF.
• Property Insurance Schedule (HUD 92329).
• Review and recommend approval/disapproval of Contractor's and/or Mortgagor's Cost Breakdown (HUD 2328).
• Prepare and provide HUD Form 92331B.
• Estimate cost of Major and Minor Movables.
• Construction progress schedule and the 5372.
• Identity of Interest and 50-75 Percent Rule Disclosure.
• Provide the Cost Reviewer's certification.
• An original report, plus 4 copies.
  
  

Scope of Services Cost Services for Pre-App Stage:

• Provide preliminary cost comparison of estimated construction budget as it related to similar projects and preliminary square footage provided by the design Architect.
• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Review the Pre-App exhibits using the HUD Cost Review Report for Pre-Application Exhibits (MAP Guide Appendix 6 - 6A.1)

Note: HUD does not require cost analysis services at this stage, but, if our services are used properly, it should be possible to save time and avoid needless changes once the clock starts.

Scope of Services Cost Services for Firm Stage:

The Cost Analysis Report will be completed in accordance with HUD instructions as outlined in the current HUD MAP Guide will include the following:

• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Visit the site with the Review Architect and participate in a joint inspection for the property.
• Provide guideline for preparing the General Contractor's 2328, along with assistance to the GC during the preparation of the GC's 2328 and 2328 LI.
• Prepare detailed construction cost estimate, including square footage calculation sketches and detail take-off.
• Develop a summary cost estimate of rehabilitation work.
• Prepared Cost Not Attributable and Site Not Attributable Work Sheets.
• Review and approve or disapprove Contractor's and/or Mortgagor's Cost Breakdown (HUD Form-92328).
• Review the other fees of both the owner and the contractor.
• Resolve differences in our cost estimate and Contractor's Construction Cost Estimate (HUD-923331B).
• Complete cost portions of Project Income Analysis and Appraisal (HUD-92264 Form).
• Prepared Cost Not Attributable for Sub-Rehab.
• Prepare Property Insurance Schedule (HUD-92329).
• Develop and analysis to determine an estimate for Annual Deposit to the Replacement Reserve, if required.
• Review and approve or disapprove requests for prior approval of identity of interest subcontractors.
• Review of Identity of Interest and 50-75 Percent Rule Disclosure. Provide a statement confirming this review.
• Review the construction progress schedule and the 5372.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.

Deliverables:

• Detailed Cost Estimate (HUD 92326).
• Cost portions of HUD 92264.
• Property Insurance Schedule (HUD 92329).
• Review and recommend approval/disapproval of Contractor's and/or Mortgagor's Cost Breakdown (HUD 2328).
• Replacement Reserve, if required.
• Major and Minor Movable lists, 232 Programs only.
• Prepare and provide HUD Form 92331B.
• Identity of Interest and 50-75 Percent Rule Disclosure.
• Construction Program Schedule and 5372.
• Provide the Cost Reviewer's certification.
• An original report, plus 4 copies.
  
  

PCNA Reports

The PCNA Report will be completed in accordance with HUD Section 223f and 232/223f instructions as outlined in the current HUD MAP Guide will include the following:

Scope of Services Architectural Engineering Services for the PCNA Report:

• Complete detailed review mortgagor's deliverables.
• Inspect the property and unit inspections.
• Prepare the Physical Inspection Report and determine the required repairs.
• Complete a Project Capital Needs Assessment and Replacement Reserve Escrow Report.
• Review municipal authorizations.
• Maintain processing records.
• Report any deviation from HUD requirements.
• Consult with technical specialist, if needed.
• The appropriate A/E portions of the HUD Form 92264 shall be completed and signed.
• Provide the Reviewer's certification.
• Provide a preliminary draft of the report to the mortgagee for review and comment prior to the completion of the final report.
• Original and four copies of the final report shall be provided to the Mortgagee.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.
  

Scope of Services Cost Services for the PCNA Report:

• Inspect the property with the Lender's Architect.
• Prepares the Project Capital Needs Assessment (PCNA) and Replacement Reserve Escrow in accordance with Appendix 5M.
• Assist in preparing a Physical Inspection Report (PIR) containing an estimated cost, adjusted for inflation.
• Preparing a Statement of Resources and Needs.
• Completing cost portions of Form HUD-92264, Project Income Analysis and Appraisal, regarding repair costs.
• Prepare the Property Insurance Schedule, Form HUD-92329.
• Our services will be provided in a manner consistent with industry standards applicable to our profession.
• Work with the Lender's appraiser to determine the "as new" replacement cost estimate and will enter the figures in Section G, lines G.36 through G.50 of Form HUD-92264.
  

Deliverables at Firm Stage:

• Detailed Cost Estimate of Immediate Repairs.
• Cost portions of HUD 92264.
• Property Insurance Schedule (HUD 92329).
• Prepare the PCNA and Reserve for Replacement.
• Provide the Cost Reviewer's Certification.
• An original report, plus 4 copies
  
  

Scope of Services Cost Services:

The Cost Analysis Report will be completed in accordance with HUD Section 202 and 811 instructions as outlined in HUD Handbook 4571.3 Rev 1 and 4571.4:

• Provide advice and assistance on cost matters to mortgagors, consultants, and contractors.
• Provide guideline for preparing the General Contractor's 2328, along with assistance to the GC during the preparation of the GC's 2328 and 2328 LI.
• Prepare detailed construction cost estimate, including square footage calculation sketches and detail take-off and cost breakdown, HUD 2326.
• Review and approve or disapprove Contractor's and/or Mortgagor's Cost Breakdown (HUD Form-92328).
• Review and estimate the Off-Site cost.
• Review the other fees of both the owner and the contractor.
• Resolve differences in our cost estimate and Contractor's Construction Cost Estimate.
• Complete cost portions of Project Income Analysis and Appraisal (HUD-92264 Form).
• Prepared Cost Not Attributable and Site Not Attributable Work Sheets in accordance with HUD 4571.4, page 1-40.
• Prepare Property Insurance Schedule (HUD-92329).
• Our services will be provided in a manner consistent with industry standards applicable to our profession.

Deliverables:

• Detailed Cost Estimate (HUD 92326).
• Cost portions of HUD 92264.
• Property Insurance Schedule (HUD 92329).
• Review and recommend approval/disapproval of Contractor's and/or Mortgagor's Cost Breakdown (HUD 2328).
• An original report, plus 4 copies.
  
  

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