Mortgagors may be either private or public.
All persons are eligible to occupy such projects subject to normal occupancy restrictions.
Documentation regarding the characteristics of the property and the qualifications of the purchaser or existing mortgagor in refinance projects are assembled by the mortgagee and submitted with the application. Management plan must be submitted at time of application for commitment. This program is excluded from coverage under OMB Circular No. A-87 . For traditional processing before the application is filed, the sponsor should have a conference with local HUD Field Office Staff. The MAP-approved lender prepares and submits the application for a Firm Commitment, including a full underwriting package for HUD Field Office review.