FHA Affordable/221(d)(4) Training Program

The comprehensive FHA Affordable/221 (d)(4) Training Program continues the learning MBA offers with regard to FHA multifamily lending. Upon completion of this course, participants can demonstrate mastery of knowledge, skills, and abilities expected of underwriters for underwriting affordable multifamily and new construction or substantial rehabilitation transactions. The course was developed in consultation with expert teams of MAP lenders, LIHTC experts, affordable housing experts, underwriters, building engineers, environmental professionals, appraisers and attorneys.

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Learning Objectives

Explore the current state of the affordable/LIHTC market

Comprehend affordable housing and affordable housing finance terms

Understand the low income housing tax credit and tax-exempt bonds

Clarify HUD’s various roles in providing affordable housing

Summarize regulations regarding affordable/LIHTC financing

Explore the roles of the development team

Review requirements for new construction and sub-rehab transactions

Clarify HUD MAP Guide requirement

Comprehend key underwriting components

Categorize sources and uses as mortgageable and non-mortgageable

Outline construction loan administration and servicing

Key business applications include:

Improved quality and accuracy in FHA affordable/ and new construction/ substantial rehabilitation lending

Improved processing times for FHA multifamily affordable/221(d)(4) loans

Improved working relationships and consistency in decision-making by HUD staff and MAP lenders

Increased awareness and application of multifamily affordable and new construction and substantial rehabilitation best practices

Successful completion of this program requires submitting weekly homework assignments, completing a final project, and passing the final exam.

2023 Details/Schedule

The course is offered via a blended format, offering the advantages of various modes of learning: an in-person kickoff, scheduled webinars, and independent self-study assignments.

In-person kick-off on September 11 and 12 in Washington, D.C.

Twice-weekly two-hour live webinars (Tuesdays and Fridays) 1:00 PM – 3:00 PM ET

Course live sessions conclude on December 12. Final exam and final project window opens on December 12, 2023 and closes on January 16, 2024

Approximately 1-2 hours per week of self-study and assignment completion outside of class

Courses in this Program

In-person kick-off and introduction: Program and Housing Market Overview

COURSE 1: Introduction to Affordable Housing

COURSE 2: Tax-Exempt Private Activity Bonds

Virtual Zoom Instruction:

COURSE 3: HUD’s Various Roles

COURSE 4: The Development Team and Development Budget

COURSE 5: AEC Review

COURSE 6: Appraisal and Market Study

COURSE 7: Environmental Analysis

COURSE 8: MAP Guide Chapter 14 and Related Chapters

COURSE 9: Underwriting the Affordable Deal

COURSE 10: Legal and Closing Matters

COURSE 11: Construction Administration/Servicing

COURSE 12: The Rest of the Industry

Who Should Attend

Applicants must be employed and approved to participate by a lender fully approved under HUD’s MAP Program or employed and approved to participate by HUD.

Professionals must be either FHA MAP certified or have earned MBA Education’s FHA Multifamily Underwriter Training Program Certificate of Completion

Minimum 3 years of experience underwriting FHA multifamily loans

1-3 years’ experience with affordable housing

1-3 years’ experience with new construction or substantial rehabilitation projects

Be familiar with the concepts of construction and tax exempt bonds

HUD staff

2023 Application Deadlines

Application Deadline: June 30

Additional Dates:

Open Enrollment: April 3

Selection Notification: July 14

Tuition Deadline: July 28

Tuition Non-Refundable: August 15

Program Begins: September 11

For more information contact Amanda Straub

Senior Training Coordination Specialist

Mortgage Bankers Association

Phone: (202) 557-2921