Wednesday, April 11, 2012

HUD/FHA MF Processing Changes; Expedited Processing Keeps Evolving From Portland's FastTrack Orgins.

Many many years ago the Portland Office was the first office in the country to use waiver authority to improve the speed of multifamily insurance loan application processing. 

In Portland we actually used a money back guarantee of timely service to induce developers and lenders to use this expedited method of loan processing. We called if FastTrack and one of our marketing slogans was "Unlike fine wine, loan applications do not improve with age" :)

Subsequently many offices adopted their own version of FastTrack processing, and that eventually morphed into a unified national process called MAP. 

In tomorrow's Federal Register HUD is proposing new rules for MAP processing; an advance copy is HERE, but check the Federal Register tomorrow for the final version along with new MAP lender eligibility requirements.

Originally created and posted on the Oregon Housing Blog.

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