LEAN 232 Pipeline as of March 20th, 2009

FHA LEAN Update - Deals in progress and closed by FHA to Date
posted by Kendall Realty Advisors

FHA # Requests – Purchase/Refinance – 221

FHA # Requests – New Construction – 49

FHA # Requests – Section 223(a)(7) - 1

FHA # Requests – Section 241(a) – 2

FHA # Requests – Sub-Rehab – 3

FHA # Requests – Section 223(d) – 2

Applications In (not closed) – Purchase/Refinance – 40 shortly)

Applications In (not closed) – New Construction – 6

Applications In – Section 223(a)(7) – 1

Firm Commitments Issued – 29

Applications CLOSED –Purchase/Refinance – 14

Applications CLOSED – New Construction – 1 (5 pre-apps completed)

The “Sample Closing Documents (including AR Financing)” link has been broken into two links - “Accounts Receivable Financing Documents” and “Sample Closing Documents”.

The most current closing checklist has been added to each loan type under “Lender Tools – Construction and Closing”.

We are in the process of uploading legal closing punchlists for all of the loan types. These punchlists will be posted under “HUD Legal Counsel Tools” (for Original Section 232/223f) or under “HUD Tools – Construction and Closing” (for the other tabs).

The link for the Intergovernmental Review that is listed in the endnotes on the Firm Application checklists under New Construction, Substantial Rehabilitation, and Section 232/241(a) has been revised. This changed with the new Administration.

As a result of our Beta Test on our first Early Commencement, we have added to and revised the documents that now appear under “Early Commencement of Construction” and “Lender Tools”.