1. MULTIFAMILY CLOSING & SERVICING
Midwest Lenders 15th Annual Conference - Chicago
8:30-10:30 a.m.
Friday, September 7th, 2018

2. Tiffany Baymiller - Moderator & Panelist
FHA Closing Manager at PGIM Real Estate Finance
6+ Years Experience (FHA)
MBA FHA Closing Committee Member
20+ Years Experience (Closing Role)
Prior Life - Director of a National Commercial Title Insurance Division
Small Business Owner of a Title Insurance Agency

3. Matt Towey - Panelist
Attorney-Advisor, Office of Regional Counsel (Chicago, IL)
Legal Honors Program (2009)
Clients: Multifamily, Residential Care Facilities, Community Planning & Development and Recapitalization
Previous Law Firm Practice (Applegate & Thorne- Thomsen)
Returned to HUD in 2015

4. Patrick Reardon - Panelist
Associate at Vorys, Sater, Seymour & Pease LLP
Commercial Real Estate Focus – Multifamily Housing
Represents Lenders and Owners (Financing Transactions for Multifamily, Senior Housing, Fannie Mae and USDA)
Specializes in LIHTC and Tax-Exempt Bond Transactions

5. John Schneider - Panelist
Technical Support Branch Chief – US Department of HUD (Chicago, IL)
Supervises Three Appraisers, Four Construction Analysts and One Closing Coordinator
24 Years with HUD (Milwaukee & Chicago Offices)
Certified General Appraiser Licensed by the State of Wisconsin
SRA Designation from the Appraisal Institute (Society of Real Estate Appraiser) since 1983.

6. Tommy Nance - Panelist
Director, Asset Management PGIM Real Estate Finance
Manages a Team of 11 Real Estate Professionals
FHA Portfolio (Hospitals, Multifamily and Healthcare)
Construction Portfolio (General Account, FHA, Fannie Mae and Freddie Mac)
Vice Chair of MBA’s FHA Servicer’s Subcommittee

7. Closing & Servicing Discussion Agenda
Legal Process, Best Practices
Closing Process, Best Practices & HOT Topics
Secret Box
Servicing Process, Best Practices & HOT Topics
Q&A with Panelists

8. Legal Process & Best Practices

9. Legal Beginning of the Transaction Process
What happens during …
Beginning of the Transaction Process
HUD Firm Commitment Issuance
Transmitting Instructions
Loan Package Comments
Closings

10. Closing Process, Best Practices & HOT Topics

11. Closing Beginning of the Transaction Process
How to handle …
Beginning of the Transaction Process
HUD Firm Commitment Issuance
Amendments
Repairs & Construction Documents
Helpful Hints for Successful Closings

12. Closing
For initial and final closing checklists and instructions on post-closing document distribution, please visit HUD’s website at:
/r5/production
Helpful Hints for a Successful Closing:
Point out timing issues upfront
Utilize HUD Website
Response Timing
Checklist
Loan Amount Criteria
Wage Determinations
Thank Your Peers!!

13. HOT Topics Rate Lock & Initial Submission Subordinations/SNDA
221(d)(4) – Timing Issues
Heavy 223(f)’s
LIHTC & Bond Documents
Deferred Developer Fee/Surplus Cash Note
Regulatory Agreement
HUD’s Streamline Process & Communicating with Other HUD Offices

14. Secret Box

15. Servicing Process, Best Practices & HOT Topics

16. Servicing Key Differences Between 223(f) and 221(d)(4)
Let’s talk about …
Key Differences Between 223(f) and 221(d)(4)
Servicing a Construction Loan
HUD Construction Inspectors
Draw Meetings
Common Issues
Tax Credit Complexities
Final Endorsements
TPAs

17. HOT Topics Delegated Authority for Repair Escrows
Construction Inspectors

18. Servicing KEY HUD (Midwest) INFORMATION:
Reserve for replacement requests are sent to the following mailbox: 
Non-critical repair escrow advance requests are sent to the following mailbox:
Contact information for HUD’s contract inspection firm:
Quinton Richardson, Project Lead   
Etegra  
1121 Olivette Executive Parkway, Suite 100  
Olivette, MO 63132 
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19. Questions & Answers with Panelists

20. Thank you!