OPG 7.13 Non-HUD-HUD-Held Non-PPC Closing Summary

OMB No. 2502-0533
(Exp, xx/xx/xxxx)

Mark-to-Market
Non-HUD-Held/Non-PPC Closing Summary
Date: ________________________

Form 7.13

Scheduled Closing Date: ________________

The PAE must submit this Form and attachments to the OAHP Headquarters Closing Specialist at least 15
days prior to closing. Within 5 days after closing (not including the weekend), the Closing Escrow Agent
or PAE must fax to the OAHP Headquarters Post Closing Specialist (except REDA which is directed to
OAHP NY), the following:
•
•
•
•
•
•
•
•
•
•
•
•

Executed new first lien note, if applicable
Executed mortgage restructuring note and mortgage,
Executed contingent repayment note and mortgage,
Final sources and uses (Exhibit F),
Property tax bill (or property tax page from title policy), if no takeout financing
IRS Form W-9 prepared and signed by owner
OAHP Form 7.16 Mortgagor Information Certification
Interim/Final Settlement Statement (signed by escrow agent)
Interim/Final Form 7.21 (signed by escrow agent and PAE)
Closing Escrow Instructions
Copy of signed Rehab Escrow Deposit Agreement (should be sent directly to REAT Specialist,
OAHP New York via fax: 212-264-5080)
If 236 Re-Use, attach copy of full IRP package

The following information contained in this Form must be consistent throughout this Package
including the Restructuring Commitment.
I. Property Information:
Existing FHA Number:
Property Name:
Address: (include Zip Code and County)
Older Assisted or Newer Assisted:
(Circle one)

O or N

Existing Section of the Act:

HUB Office (address):
Owner’s Name:
Address:
Phone:

Tax ID# (must match F47):
Fax:

Project’s Management Co.:
Billing Address:
Contact Person:
Phone:

Fax:

________________________________________________________________________________________________________
February 2006
Form 7.13 - Page 1

Existing Mortgagee Name:
Contact Person:
Phone:

Mortgagee I.D. #
Tax ID# (must match F47):
Fax:

New Mortgagee Name:
Contact Person:
Phone:

Mortgagee I.D.#
Fax:

Closing Escrow Agent:
Contact Person:
Phone:

Fax:

Title Company:
Contact Person:
Phone:

Fax:

Post Closing Rehab Escrow Contractor (Cash Manager):
Contact Person:
Phone:
Fax:
Post Closing Rehab Escrow Contractor (Administrator):
Contact Person:
Phone:
Fax:
IF A TPA, PROVIDE:
New Owner’s Name:
Address:
Phone:

Tax ID #
Fax:

New Owner's Project Management Co.:
Billing Address:
Contact Person:
Phone:

Fax:

________________________________________________________________________________________________________
February 2005
Form 7.13 – Page 2

II.

Certified Mortgage Balance

$ __________________

as of : _____________

(Amount must match Mortgagee’s Certificate of Mortgage Balance)
Projected Mortgage Balance after last payment prior to closing: $______________________________
Is current month’s payment being brought to the Closing Table?

Yes

No

If Yes, amount: $___________________

(If yes, amount must be shown on Other Sources and Other Uses on Exhibit F)

III. HUD Held Loans (post-restructuring):
Ranking
(1st, 2nd, 3rd)
show below

Type
Mortgage Restructuring Note
Contingent Repayment Note

Amount
$
$
Total Amount $

Comments:

IV. Other Factors
X Check any applicable factors and provide stated information:
Excess Residual Receipts will be used to paydown existing balance in the amount of
$______________
Excess Reserves for Replacement will be used to paydown the existing balance in the amount of
$______________

V.

Restructured Loan Information (must check one):

† Modified $____________
(new principal balance)

† Paid In Full (no takeout

† Refinanced with FHA Loan
New FHA#

$ _________________
Section of the Act:

† Refinanced with Non-FHA Loan $______________

financing)

VI. Post-Closing Escrow Accounts
Initial Deposit to Reserve for Replacement
Account (IDRR) $____________________
Hazard Insurance $________________
(only applicable if new takeout financing)

Taxes: $_____________________

Monthly Deposit for Reserve for Replacement Account $_________________________
(include total amount due regardless of source of payment)

________________________________________________________________________________________________________
February 2005
Form 7.13 – Page 3

VII. Verification of Mortgagee of Record & Unpaid Principal Balance (in F 47):
Unpaid Principal Balance:

Mortgagee of Record:

as of:

Mortgagee #:

Servicer of Record

Tax ID#:

Attached is an approved Form 4.11 documenting that data in F47 was correct or Form 4.12 which
documents that discrepancies were previously reconciled during due diligence. I have reviewed all
of the current F47 information entered above and certify that it is still correct and is consistent with
all data on this form 7.13. If there are any new discrepancies, do not submit this form until
reconciled, then attach the approved 4.12.
Signature:____________________________ Date:__________________________
Debt Restructuring Specialist
VIII. OAHP Contact Information:
Debt Restructuring Specialist:________________________________ Phone______________________
Preservation Office Closing Coordinator :__________________________ Phone:___________________
OAHP Preservation Office Directors:
Chicago
Harry West

(312) 886-4133 ext. 2370

Central Office

(202) 260-2746

Donna Rosen

(When applicable, insert Acting Preservation Office Director’s name)

VI. Management Certification:
A Management Certification IS
applicable.

IS NOT (circle one) required in this transaction. Attach copy, if

VII. Certification:
I hereby certify that the above information is consistent with the Restructuring Commitment and the
mortgagee’s information. In addition, I certify that the payoff figure in Exhibit F (Uses, line 2) does not
exceed the maximum permitted under F47 (necessary even though a 541b claim is not being paid).

Signature:__________________________
Name:_____________________________
OAHP Preservation Office Director

________________________________________________________________________________________________________
February 2005
Form 7.13 – Page 4

Public reporting burden for this collection of information is estimated to average 0.5 hour per
response, including the time for reviewing instructions, searching existing data sources,
gathering and maintaining the data needed, and completing and reviewing the collection of
information. This information is required to obtain benefits. The office of Multifamily Housing,
Office of Affordable Housing Preservation 451 7th Street SW, Room 6216 6230 Washington,
DC 20410. HUD may not collect this information, and you are not required to complete this
form, unless it displays a currently valid OMB control number. Title V of the Departments of
Veterans Affairs and Housing and Urban Development and Independent Agencies
Appropriations Act of 1988 (P.L.106 65, 111 Stat. 1384) authorizes the FHA Multifamily
Housing Mortgage and Housing Assistance Restructuring Program. HUD implemented a
statutory permanent program directed at FHA-insured multifamily projects that have projectbased Section 8contracts with above- market rents. The information collection is used to
determine criteria eligibility of FHA-insured multifamily properties for participation in the Mark
to Market program and the terms on which participation should occur. The purpose of the
program is to preserve low-income rental housing affordability while reducing the long-term
costs of Federal rental assistance. While no assurances of confidentiality are pledged to
respondents, HUD generally discloses this data only in response to a Freedom of Information
request.