Practitioner's Guide to Secondary Financing in FHA Programs
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The U.S. Department of Housing and Urban Development’s (“HUD”) Federal Housing Administration (“FHA”) Multifamily Mortgage Insurance Program is one of the largest drivers of multifamily housing development in the country. Unfortunately, with rising costs and other factors increasing transactional com-plexity, it is often necessary to utilize multiple funding sources in order to close transactions, particularly those with an affordable component. Different funding sources bring potential for clashes and conflicts, especially with FHA financing’s maze of statutory, regulatory and administrative requirements.
The Practitioner's Guide to Secondary Financing in FHA Programs helps navigate the process of utilizing FHA multifamily financing and the potential pitfalls of using FHA multifamily financing in conjunction with other financing sources. The book discusses common potential pitfalls in trying to use additional financing with FHA-insured multifamily mortgage loans and strategies to overcome these potential delays. Each chapter approaches potential conflicts from a different party’s perspective.