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.
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
