Guide Update 24-11
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Sponsor-Initiated Affordability
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HIGHLIGHTS |
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Effective for Mortgage Loans Committed as of October 30, 2024, removed the Borrower's requirement to execute a Payment Guaranty (Pricing Incentive Recapture) (Form 6020.PIR) for Sponsor-Initiated Affordability (SIA) Housing Properties. |
Primary Change
To support the creation and preservation of affordable workforce housing, updated Part III, Chapter 7: Multifamily Affordable Housing Properties, to remove the required Payment Guaranty (Pricing Incentive Recapture) (Form 6020.PIR) for SIA Properties.
Questions
Please contact Jane Christen, at [email protected], with any questions.