R4R Checklist - HUD



Lender Submission Checklist for ORCF R4R Streamlined Processing1. Requests must be submitted electronically with PDF attachment (using the checklist below) to 232R4Rrequest@.2. Label the Subject line of email in the following format (Lender Name and FHA number inserted): R4Rxxx-xxxxxLenderName 3. All submissions processed by the ORCF R4R Team will be assigned within 24 hours of receipt.FHA NUMBER:FHA PROJECT NAME:ExhibitItemN/AIncl.Reimbursements1Completed Lender Submission Checklist FORMCHECKBOX 2Completed Funds Authorization, HUD-9250-ORCF for HUD Approval/Signature FORMCHECKBOX 3Signed Borrower Certification and Request Detail, HUD-9250A-ORCF FORMCHECKBOX 4Lender Confirmation of review for completeness, eligibility and accuracy (see signature line below). FORMCHECKBOX 5Lender Reserve for Replacement Account Information:Current R4R balance per Escrow Account: $________________________________________ as of _______________Remaining R4R Balance after proposed disbursement: $_____________________ resulting in $_________________/unit (should be at least $1000/unit). FORMCHECKBOX Advance or Staged Withdrawals for Pre-Approved Capital Improvements– Include 1 through 6 above and:6Proof of HUD Pre-Approval from ORCF Account Executive or WLM (only required for advances/staged draws for capital improvement projects) FORMCHECKBOX FORMCHECKBOX 7Other Supporting Documents:Contract(s) (include any updates/amendments)PhotosOther ______________________ FORMCHECKBOX FORMCHECKBOX FORMCHECKBOX FORMCHECKBOX FORMCHECKBOX FORMCHECKBOX Improvement/Repairs over $50,000 - Include applicable exhibits above and:8Borrower certification that three bids were secured and on file, or if 3 bids unattainable, provide explanation. Also include explanation of bid chosen, with justification if not lowest bid. FORMCHECKBOX FORMCHECKBOX Lender Confirmation (Suggested Language), as referenced in Exhibit 4 above:As an approved 232 servicing lender, we recommend approval of expedited R4R processing for the attached submission. In accordance with ORCF Section 232 Handbook, Section III (Asset Management) Chapter 3.2.2, we confirm the following:We have reviewed for completeness, accuracy and eligibility.The request is for work that is no older than one year.The attached submission is not for: payment of a mortgage, loan; suspension or adjustment of R4R payment amount; an emergency advance; a withdrawal that results in <$1000/unit in reserves balance; a NC/SR/241a insured project that is in lease up, nor is the project overseen by the ORCF Risk Management Team (NOTE: a submission that involves any of these actions must be submitted directly to the assigned ORCF Account Executive, not the 232R4Rrequest@ mailbox).The submission does/does not (circle one) involve a project with a currently pending refinance application (e,g, 223f, 223a7) nor address items that are to be paid from an existing non-critical repair escrow._________________________________________________________________ __________Name/Signature of Authorized Lender RepresentativeLender DateLender Submission Checklist for Delegated Lender Processed R4R Requests1. The following requests for R4R can be administered directly (i.e. approved or denied) by a HUD-Approved R4R Delegated Lender under Section 232:Reimbursement requests on eligible capital improvement items already funded by the participantR4R with account balances of >$1500/unit (unless a waiver is requested and approved for balances to be > $1000/unit) after the requested release as approvedR4R requests with no IOI between the Borrower, Lender or affiliates of either (Submit Borrower/Lender IOI requests to the R4R Team at 232R4RRequest@.)2. Requests must be submitted electronically (with PDF attachment using checklist below) within 7 days of approval to ORCF at 232R4Rrequest@. Requests denied by Delegated Lenders do not need to be submitted to ORCF, but lender should keep a record of any approval or denial.3. Label the Subject line of email in the following format, with the Lender Name and FHA number inserted: R4Rxxx-xxxxxLenderNameDELEGATEDAPPROVALNo.ItemN/AIncl.Reimbursements1-1Completed Lender Submission Checklist FORMCHECKBOX 1-2Completed Funds Authorization, HUD-9250-ORCF signed by Lender with printed contact name, title, signature and date of processed R4R request. Circle approved amount. FORMCHECKBOX 1-3Signed Borrower Certification and Request Detail, HUD-9250A-ORCF FORMCHECKBOX NOTE: Requests for R4R for the following must go to directly the Assigned AE for the project (not allowed to be processed by the Delegated Lender):Mortgage payments/shortfalls (partial or full)Preapprovals or Advances, including for proposed remodeling/additions/demolition (must secure pre-approval from AE for capital improvements)Any project that is assigned to the ORCF Risk Mitigation TeamSuspension of Adjustment of Reserve Payments Short Term Loans from ReservesEmergency Advances ................
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