U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

H O U S I N G

TRANSMITTAL NO. 6 4565.1 CHG

February 17, 1978

1\. This Transmits:

Revision to HUD Handbook 4565.1, Mortgage Insurance for the

Purchase or Refinancing of Existing Multifamily Housing

Projects, Section 223(f), dated 2/78.

2\. Explanation of Material Transmitted:

Paragraph 6-2c has been amended to require that amounts paid

by the seller for or on behalf of the purchaser be reflected

as a reduction of the acquisition cost.

3\. Filing Instructions:

Remove: Insert:

Handbook 4565.1 CHG Handbook 4565.1 CHG

Pages 6-3 and 6-4, Page 6-3, dated 2/78

dated 7/77 Page 6-4, dated 7/77

Lawrence B. Simons

Assistant Secretary for Housing-

Federal Housing Commissioner

H:DISTRIBUTION: W-1, W-2, W-3, W-3-1, W-4, R-1, R-2, R-3, R-3-1

(HM & HPMC), R-3-2, R-4, R-4-1, R-4-2, R-5, R-5-1, R-5-2

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

H O U S I N G

TRANSMITTAL NO. 5

November 28, 1977

1\. This Transmits:

Changes to Handbook 4565.1, Mortgage Insurance for the Purchase

or Refinancing of Existing Multifamily Housing Projects, Section

223(f), dated 11/77.

2\. Explanation of Changes:

The changes to Chapter 4 incorporate instructions for preparing

Form HUD-92329, Property Insurance Schedule, which were

inadvertently omitted in the original issuance of Handbook

4565.1.

The changes to Chapters 5 and 6 provide procedures which will

allow a reasonable return on investment to the purchaser of an

existing housing project in the event that the acquisition cost

exceeds the estimated value of the project.

3\. Filing Instructions:

Remove: Insert:

Handbook 4565.1 CHG Handbook 4565.1 CHG

Foreword, dated 9/75 Foreword, dated 11/77

Table of Contents, Page i, dated 9/76 Table of Contents,

Page i

Table of Contents, Page ii, dated 7/77 and ii, dated 11/77

Pages 1-5 and 1-6, dated 5/76 Pages 1-5 and 1-6, dated

11/77

Pages 4-1 and 4-2, dated 9/75 Page 4-1, dated 9/75

Pages 5-7 and 5-8, dated 9/75 Page 4-2, dated 11/77

Pages 6-15 thru 6-18, dated 7/77 Page 5-7, dated 11/77

Exhibit IV, Pages 1 and 2, dated 9/75 Pages 5-8 and 5-9, dated

11/77

Page 6-15, dated 7/77

Pages 6-16, thru 6-18,

dated 11-17

Exhibit IV, Page 1,

dated 9/75

Exhibit IV, Page 2,

dated 11/77

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

Assistant Secretary for

Housing-Federal Housing

Commissioner

This Handbook is designed to provide application and processing

instructions to prospective sponsors and HUD staff for proposals

under Section 223(f).

The program is authorized by Section 223(f) of the National Housing

Act as amended by the Housing and Community Development Act of 1974,

Public Law 93-383. Mortgage insurance will be provided only under

Section 207. Applicable Regulations for Section 207 appear in the

Code of Federal Regulations Title 24.

References:

\(1\) 4465.1 Valuation Analysis for Project Mortgage

Insurance

\(2\) 4460.1 Architectural Analysis and Inspection for

Project Mortgage Insurance

\(3\) 4450.1 Cost Estimation for Project Mortgage

Insurance

\(4\) HM 4381.5 Compensation for Management Services in

Multifamily Housing Projects with Insured or

HUD Held Mortgages

\(5\) HM 4381.2 Management Requirements in Processing

Insured Multifamily Housing Projects

\(6\) HM 4370.1 Insured Multifamily Projects Annual

Financial Reporting and Analysis Handbook

\(7\) 4480.1 Multifamily Reports and Forms Catalog

\(8\) 4910.1 Minimum Property Standards - Multifamily

Housing

\(9\) 4470.1 Mortgage Credit Analysis for Project

Mortgage Insurance

\*

\(10\) 4010.1 Definitions, Policy Statements and General

Rulings \*

11/77

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