Notice of Submission of Proposed Information Collection to OMB; Lender Qualifications for Multifamily Accelerated Processing (MAP)

Résumé

The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. To participate in MAP, lenders will be required to show that they have an experienced multifamily underwriter on staff, a satisfactory record on lending on multifamily housing properties, and an acceptable Quality Control Plan. Qualified lenders can then take advantage of a mortgage application-processing plan that will take substantially less processing time than traditional processing.