H O U S I N G

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Special Attention of: TRANSMITTAL Handbook No. 4315.1 REV-1

Regional Administrators Issued: 7/13/92

Regional Housing Directors

Regional and Field Counsel

Field Office Managers

Directors of Housing Management

Chief Property Officers

Chiefs of Loan Management

Multifamily Realty Specialists

Multifamily Property Disposition Contracting Specialists

Regional Contracting Officers

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1\. This Transmits

A revised and retitled Handbook 4315.1 REV-1, Multifamily

Property Disposition - Management.

This handbook does not include procedures related to the

disposition of HUD-owned projects found in the predecessor

handbook. Those procedures are currently found in Notice

H-91-84 (HUD), Delegation of Authority to Approve Final

Disposition Programs for HUD-owned Multifamily Projects.

The Department plans to issue a new Handbook 4315.2,

Multifamily Property Disposition - Sales, in the future that

will combine the procedures in Notice H 91-84, \"Processing

and Approving the Disposition of HUD-Owned Multifamily

Projects,\" and Notice H 91-68, \"Delegation of Authority to

Foreclose Multifamily Mortgages.\"

This handbook also incorporates and supersedes the

provisions of the following Notices:

H 90-62 Repairs to Multifamily Mortgagee-in-Possession

(MIP) and HUD-Owned Properties

H 90-64 Rent-Setting, Leasing, Tax Appeals and Prompt

Payment Penalties Policies and Procedures for

HUD-owned and MIP Properties

H 91-51 New Lease for the Multifamily Property

Disposition Program

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2\. Implementation:

This handbook is effective immediately.

3\. Filing Instructions:

Remove Insert

Handbook 4315.1, dated Handbook 4315.1 REV-1,

February 17, 1971, and dated 7/92

changes CO35 to CO44.

Notice H91-51 (HUD),

dated June 11, 1991

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Assistant Secretary for Housing

Federal Housing Commissioner

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Handbook 4315.1 REV-1

U.S. Department of Housing and Urban Development

Washington, D.C. 20410

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Program Participants

and Departmental

Staff

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July 1992 Multifamily Property

Disposition

\- Management

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W-3-1,W-2(H),W-3(A)(OGC)(ZAS),W-4(H),R-1,R-2,R-3,

R-3-1(H)(RC),R-3-2,R-3-3,R-6,R-6-1,R-6-2,R-7,R-7-1,

R-8

R-8 Category C offices - Office Managers and Deputy Office

Managers