The Participating
Administrative Entities' (PAEs') Portfolio Restructuring Agreement (PRA) and its
related documentation are available in pdf format and can be downloaded below.
The most recent Amendment to the PRA was produced in March 2007 (listed below):
The PAEs play a
central role. They are responsible for administering the Mark-to-Market program
at the project level and for coordinating processing of the restructuring commitment
with FHA underwriting guidelines if a Section 223(a)(7) or other type of FHA insured
loan is used to facilitate the restructuring transaction. Their duties include
eligibility screening, data collection and due diligence, underwriting, responding
to appeals, managing the closing process, and engaging in certain post-closing
asset management activities. PAEs
have been selected by HUD through a qualifying process, which drew upon state
and local housing finance agencies and for-profit and nonprofit entities with
experience in multifamily housing finance. Comments,
questions and concerns should be discussed with the projects PAE. Public
Participating Administrative Entities Public
PAEs are comprised of state and local housing finance agencies selected in January
1999 upon completing the qualifying process. A
copy of the Portfolio Restructuring Agreement (PRA) can be downloaded above.
Non
Public Participating Administrative Entities Non
public PAEs are nonprofit and for-profit entities contracted by OAHP to perform
restructuring on eligible properties in the states not within the state and local
housing finance agencies' authorized jurisdictions. Eligible Non Public PAEs are
contracted by OAHP after a bidding process for eligible M2M property assignments.
Scroll down for a list of all the contracted PAEs. A
copy of the Portfolio Restructuring Agreement (PRA) can be downloaded above.
Resources
|
Frequently
asked questions regarding Conflict of Interest (COI) |
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The
Final Report on Compliance Audits and Agreed-Upon Procedures Reviews of Participating
Administrative Entities is now available in pdf
and Word format (March
31, 2004) |
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