92013-C HUD Data Report

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Overview

Instructions
HUD Data Input-Summary Report
Output- HUD Summary Report
HUD Data Input-Lender Docs Rpt
Output-HUD Lender Docs Report
Sheet1

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Sheet 1: Instructions

This file release:
November 30, 2011
See below for notable/material changes
since the prior release.
			DO NOT TYPE IN THE OUTPUT PAGES' LINKED FIELDS; IF IT IS ABSOLUTELY NECESSARY, YOU MAY OVERTYPE LABELS.
			Introduction to the Loan Information and Financial Analysis document.
			This tool will allow users easily to provide the National Loan Committee with information and financial analysis it seeks as it reviews loan applications. This report is to be submitted in conjunction with the Narratives document which is available as a Microsoft Word document.	ANY CHANGES IN COLUMN WIDTH OR ROW HIEGHT MAY DISTORT PRESET PRINT SETUP.
			This file creates a simple system through which staff (or lenders if they choose) can automatically populate fields a NLC data template and print out the resulting report.
			The system asks for approximately 172 project and financial data points for the project description and analysis report. Almost no datum is requested that could be calculated.
			Data is input into the Data Input worksheet tabs that uses a combination “list and table layout.”
			The system asks for additional data from third party reports. The number of these data points will vary depending upon the SOA under which the application is being submitted, for example, inputting comparables data for 6 comps required inputting about 60 data points.
			Instructions the color coding of responsibility for verifying the accuracy of information included in the report
			This form makes us of color coding in the pre-set "margins" of the page-layouts in the Output tabs. The left margin color coding indicates what technical discipline should verify the accuracy of information presented on the left side of the page-layout and the right margin color coding indicates what technical discipline should verify the accuracy of information presented on the right side of the page-layout. Some page layouts are not divided in left and right sides in which case the color coding is the same in both margins.
			The color coding follows this convention:
			Housing reps		Green
			Mortgage Credit		Red
			A/E		Blue
			Valuation		Purple
			Supervisor		Yellow
			Calculations performed on the data submitted on the Input sheets and presented or analyzed in the Output sheets
			The following calculations are done in the spreadsheet:
			·         Gross rents per BR-type are calculated and summed to get Gross rents
			·         Ancillary income and commercial income are calculated to get gross income based on parking space/laundry and other data points for ancillary income and rentable square feet and annual psf rents for commercial income.
			·         Vacancy rates for both residential and commercial income are applied to yield EGI
			·         Expenses (which are entered as a single dollar figure) are subtracted to yield NOI
			·         DSC is calculated using NOI derived as above and the fixed debt service dollar figure that is entered as a data point.
			Stress and sensitivity calculations are completed using the Income and Expense figures above.
			Certain psf calculations are completed using Unit sq ft inputs.
			This spreadsheet will not:
			Resize mortgages using NOI/DS percentage entered as a data point and an applicable rate, nor will it calculate any other 64a mortgage amount.
			The data entry tabs show the source of nearly all data points.
			Printing the Output pages
			Importantly, the spreadsheet is set to print the seven project output pages and four lender-3rd party report pages (and the Data Input pages as well) with a “Data Source Date (the data of the app. or amended app.)” on the top right of every page. This will allow users to know what data is being used when, for example, an project application goes back and forth between a lender and the field office.
	Notable/material changes
	since the prior release.
	November 21, 2011	Change cell formula reference to total uses in S&U report beginning AG20
	June 16, 2011	Change per unit formula in S&U report beginning AL7
	June 16, 2011	Change def of PUPA to include R4R cell Summary report BA42
		Changed "occupancy" to "vacancy" cells Summary report AZ40, AZ41
	June 14, 2011	Added "file release" field to reports worksheets to allow users to see what file version is being used for both this Reports file and
		the Lenders data worksheets; ref to input on Instructions worksheet.
	June 7, 2011	Change of formula calculating ancillary vacancy -Summary report cell BA8
	May 5, 2011	File name change from "NLC_DATAsheet_Beta_JB_3-29-11"
		Formatting of Input worksheet cells; some Report cells changed and reformatted
		Tabs renamed
		Calc error of income cell AR19 and vac. AR20 corrected; total DS & CFlow references corrected cell CU19 and CU20
		Added cell to include PUPA sum of Exp plus R4R, cell V30; recalc exp ratio, cell X31
	March 29, 2011	n.a. (first public beta version)

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Sheet 2: HUD Data Input-Summary Report

Approx. 172 data cells for inputting

Date of Data run (date of app. or amended app.)

Lenders file release:

Date of Data run (date of app. or amended app.)

12/30/1899

Date of Data run (date of app. or amended app.)

12/30/1899

Date of Data run (date of app. or amended app.)

12/30/1899

Input description

Source

Input description

Input

Input

Input

Input

Source

Input description

Input

Source

Input description

Input

Source

Stage of Processing:

-92264, 1-. - Top of Form

Rents- add a very short comment if this list has been consolidated.

Sources and Uses Data

Expenses past yrs/planned

HUD Office:

-, -. - See Narrative

Unit Data

Input Type

No. of Units

Avg. Sq. ft.

Avg. rent

FHA 1st mortgage:

-92264-a, 3-B.4a -

Two years ago-Year ending (mm/dd/yy)

See Appraisal or Market Study Report

Lender Name:

-2013, 5-M. -

Studio Units or input other designation

-92264, 2-C.27 a-i - 64-a Page 1-4 a

Borrower Cash Equity [or <Cash Out>]:

-2283, 2-III.44 -

Two years ago-Rent Revenue-Gross potential

See Appraisal or Market Study Report

Lender Address:

-2013, 5-M. -

One BR or input other designation

-92264, 2-C.27 a-i - 64-a Page 1-4 a

Existing Escrows:

$-

-92264-a, -. - Appendix 2 Refi or Sources & uses

Two years ago-Vacancy Loss

See Appraisal or Market Study Report

Broker:

-, -. - See Narrative

Two BR or input other designation

-92264, 2-C.27 a-i - 64-a Page 1-4 a

Tax Credit Equity:

$-

-92264-a, 2-I.11b2 -

Two years ago- Residential Vacancy

See Appraisal or Market Study Report

Borrower Entity:

-2013, 1-B. -

Three BR or input other designation

-92264, 2-C.27 a-i - 64-a Page 1-4 a

Public Grants or Loans:

$-

-92264-a, 2-I.11b1 -

Two years ago-Net Commercial Revenue

See Appraisal or Market Study Report

Principal:

-2013, 4-K.1 -

Four or More BR or input other designation

-92264, 2-C.27 a-i - 64-a Page 1-4 a

Other Sources:

$-

-92264-a, 2-I.11b1 -

Two years ago- Commercial Vacancy

See Appraisal or Market Study Report

General Contractor:

-2013, 4-K.4 -

Non-revenue units

-92264 - T, -. -

Other Sources:

$-

-92264-a, 2-I.11b1 -

Two years ago-Financial Revenue

See Appraisal or Market Study Report

Idendity-of-Interest General Contractor?:Y, N

-, -. - See Narrative

Ancillary Income Data

No. of spaces

Inc./space/mo.

Comment

Add. Descriptn.

Total Cash Sources for Mortgage able Items:

$-

-92264-a, 3-III. -

Two years ago-Other Revenue

See Appraisal or Market Study Report

Management Agent:

-2013, 4-K. -

Parking1spaces

-92264, 2-C.29 -

Existing Land/Project Debt:

$-

64-a, 3-II.B.2 or -92264, 2-B.23b -

Last year-Year ending (mm/dd/yy)

See Appraisal or Market Study Report

Idendity-of-Interest Management Agent?: Y, N

-, -. - See Narrative

Parking2spaces

-92264, 2-C.29 -

Total for All Improvements:

$-

-92264, 4-G.50 -

Last year-Rent Revenue-Gross potential

See Appraisal or Market Study Report

Project Name:

-2013, 1-A.1 -

Description

Monthly Inc.

Comment

Total Carrying and Financing Charges:

$-

-92264, 4-G.63 -

Last year-Vacancy Loss

See Appraisal or Market Study Report

FHA #

-2013, 1-A.3 -

Laundrydescription

-92264, 2-C.29 -

Legal, Org, Audit:

$-

-92264, 4-G.67 -

Last year- Residential Vacancy

See Appraisal or Market Study Report

Street Address:

-2013, 1-C.1 -

Other/Ancillary Income1

-92264, 2-C.29 -

Escrow

$-

-92264-a, 3-B.9 -

Last year-Net Commercial Revenue

See Appraisal or Market Study Report

City

-2013, 1-C.2 -

Other/Ancillary Income2

-92264, 2-C.29 -

Initial Deposit to R & R

$-

-, -. - Sources & Uses

Last year- Commercial Vacancy

See Appraisal or Market Study Report

State

-2013, 1-C.4 -

Other/Ancillary Income3

-92264, 2-C.29 -

Total HUD-recognized Uses (to be paid with cash):

$-

Last year-Financial Revenue

See Appraisal or Market Study Report

Zip

-2013, 1-C.4 -

Other/Ancillary Income4

-92264, 2-C.29 -

Borrower Cash:

$-

Last year-Other Revenue

See Appraisal or Market Study Report

County:

-2013, 1-C.3 -

Ancillary Only Vacancy Rate: (input Res. Vacy below)

-92264, 2-C.29 -

Letter of Credit:

$-

-, -. - Provided at closing

Notes:

See Appraisal or Market Study Report

Section of the Act (SOA):

-2013, 1-B. - first box

Commercial Income Data

Rentable sq feet

Inc./sqft/yr

Comment

Tax Credit or Exchange Proceeds:

$-

-, -. - Sources & Uses

Two years ago - Comment

See Appraisal or Market Study Report

Loan type: NC, SR, Refi, Purch/Refi

-92264-a, 1-. - Type of Project

Comm. Area-ground lvl - sq ft

-92264, 2-C.30 -

Public funds – Grants:

$-

-92264-a, 2-I.11b1 -

Last year - Comment

See Appraisal or Market Study Report

Date of Site Visit(1):

-92264, 5-J. -

Comm. Area-other lvl - sq ft

-92264, 2-C.30 -

Public funds – Loans:

$-

-92264-a, 2-I.11b1 -

Underwritten - Comment

Site Visit Conducted by:

-92264, 8-N. - (Usually Appraiser)

Net Rentable Commercial Area

-92264, 2-C.35 -

Deferred Developer Fee:

$-

-, -. - Sources & Uses

Date of Site Visit(2):

if any second visit was made

Annual Commercial Expense if any is separately shown in 2264, p 4, Sect g, ln 32d:

-92264, 4-F.32d -

Other:

$-

-, -. - ?

Site Visit Conducted by:

if any second visit was made

Total Residential Expenses (excl. R4R)

-92264, 3-E.29 - E.21

Total Cash Sources for Non-mortgageable Items:

-, -. - Sources & Uses

Purpose of Loan:

-2013, 1-B. - Purpose on Page 5 of 8

Replacement reserve not included in expenses

-92264, 3-E.21 -

Initial Operating Deficit:

$-

-92264, 4-I.3 -

Type of Project:

Total Management fee ($) already in total exp.

-92264, 3-E.3 -

Working Capital:

$-

-92264-a, 3-B.10 -

Family

-92264-a, 1-. - Type of Project

Residential Only Vacancy Rate: (input Anc. Vacy above)

-92264, 4-F.30c -

Contingency:

$-

-92264, 4-G.71 -

Elderly

-92264-a, 1-. - Type of Project

Commercial Vacancy Rate:

-92264, 4-F.32b -

Developer Fee:

$-

-92264, 4-G.69 -

Coop

-92264-a, 1-. - Type of Project

Mortgage Calculation Data

GNMA fee or Lender Legal outside of Financing/Placement, or Discounts:

$-

-92264, 4-G.61 -

SRO

-92264-a, 1-. - Type of Project

SOA Applicable NOI %

-92264 A -

Disallowed Construction or Arch. Contract Costs:

$-

-2283, 1-I.2b -

# of units market vs subsidized

Permanent loan term

-2013, 5-M.1 -

Total Non-mortgageable Uses:

-, -. - Sources & Uses

Units -Market Rate

-92264-T, -. -

Permanent Loan Interest rate

-2013, 5-M.1 -

Lender Financing / Placement Fee:

$-

-92264, 4-G.59 -

Units -Section 8

-92264-T, -. -

Permanent loan Curtail Rate

-64-a, 1-I.5c -

FHA Application Fee ($3/1000 of loan amt):

$-

-92264, 4-G.57 -

Units -Other subsidy

-92264-T, -. -

MIP

-64-a, 1-I.5b -

Cost Not Attributable – Residential:

$-

-92264, 8-M.15 -

Non Revenue units

-92264, 1-A.11 -

All-in rate

-64-a, 1-I.5d -

Land Value:

$-

-92264, 4-G.73a -

If applicable, breakdown of Affordable (or Tax Credit) unit restrictions:

Principal & Interest (monthly)

-, -. - See Narrative

Builders Profit:

$-

-92264, 4-G.44 -

@ 30% AMI

-92264T, -. -

MIP initial monthly amount

-64-a, 1-I.5b -

Construction cost per square foot:

$-

-92264, 4-G.51 -

@ 40% AMI

-92264-T, -. -

Criteria-Determined Mortgage Amount:

-92264-a, 2-I. - Bottom of Page 2

Financing / Placement Fee as a % of loan amount:

$-

-92264, 4-G.59 -

@ 50% AMI

-92264-T, -. -

Criterion 1, Borrower Requested:

-64-a 1,I.1 or -2013, 1-B. -

Lender Third Party Reports:

$-

-92264, 4-G.65 -

@ 60% AMI

-92264-T, -. -

Criterion 3, applicable %

-64-a, 1-I.3a -

Cost Not Attributable – Commercial:

$-

-92264, 8-M.12 -

Gross Floor Area (sq ft)

-2013, 2-E.8 - or 92264,2-C.33

Criterion 3, calculated amount

-64-a, 1-I.3g -

Land Cost – Last Arms Length Transaction:

$-

-92264, 2-B.20 -

Loan-to- Mortgageable Replacement Cost:

-, -. - See Narrative

Criterion 4, Statutory Limit-determined amount

-64-a, 1-I.4g -

BSPRA or SPRA:

$-

-92264, 4-G.68 -

Interest Rate during Construction:

-92264, 4-G.53 -

Criterion 5, applicable %

-64-a, 1-I.5e -

Construction Period + 2 months:

-92264, 4-G.53 -

Criterion 5, calculated amount

-64-a, 1-I.5j -

Absorption rate (# of units per month):

-, -. - See Narrative

Subsidy Layering, criterion 11:

-64a, 2-I.11 -

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Sheet 3: Output- HUD Summary Report

Property Profile, page 1

Date of Data run (date of app. or amended app.)

12/30/1899

This file release:

Property Profile, page 2

Date of Data run (date of app. or amended app.)

12/30/1899

Property Profile, page 3

Date of Data run (date of app. or amended app.)

12/30/1899

Property Profile, page 4, NOI Summary

Date of Data run (date of app. or amended app.)

12/30/1899

Property Profile, page 5, Stress Test

Date of Data run (date of app. or amended app.)

12/30/1899

Graphical view of project and projections- page 1

Date of Data run (date of app. or amended app.)

12/30/1899

Graphical view of project and projections- page 2

Date of Data run (date of app. or amended app.)

12/30/1899

Data and labels used in graphs and tables

40877

Stage of Processing:

0

HUD Office:

0

0

0

0

0

Sensitivity Analysis

0

Project Characteristics and Projections

0

Project Characteristics and Projections

0

Lender Name:

0

Unit Rents

Sources and Uses of Funds (Cash Basis– BSPRA/SPRA, Land Equity Contribution are not cash basis)

Annual Income Computations

rent trend assumption:

2.00%

Unit count

0

Anc Inc Vacancy

0.00%

Lender Address:

0

Unit Type

Avg. Sq. Ft.

# of Units

Monthly rent per unit

Monthly Rent/sq ft

Monthly Income

Summary of Sources / Mortgageable Uses

Non-Mortgage able Sources/Uses

Estimated Project Gross Rental Income

$-

#DIV/0!

Estimated Commercial Income

$-

#DIV/0!

expense trend assumption:

3.00%

Occupancy

100.00%

Comm. Ocpncy

100.00%

Unit Type

# of Units

Monthly rent per unit

Broker:

0

Studio Units

0

0

$-

#DIV/0!

$-

Sources

Total

per unit

Sources

Total

per unit

Ancillary Income

$-

#DIV/0!

Commercial Occupancy

100.00%

year 1

year 2

year 3

year 4

year 5

Studio Units

0

0

Borrower Entity:

0

One BR Units

0

0

$-

#DIV/0!

$-

FHA 1st mortgage

$-

#DIV/0!

Borrower Cash:

$-

#DIV/0!

Gross Estimated Rental and Ancillary Income

$-

#DIV/0!

Effective Gross Commercial Income

$-

#DIV/0!

Residential Income after vacancy

$-

$-

$-

$-

$-

One BR Units

0

0

Principal:

0

Two BR Units

0

0

$-

#DIV/0!

$-

Borrower Cash Equity/(Cash Out)

$-

#DIV/0!

Letter of Credit:

$-

#DIV/0!

Residential Occupancy Percentage

100.00%

Total Commercial Project Expenses

$-

#DIV/0!

Net Ancillary Income after vacancy

$-

$-

$-

$-

$-

Two BR Units

0

0

General Contractor:

0

1-of-1 General Contractor?

0

Three BR Units

0

0

$-

#DIV/0!

$-

Existing Escrows:

$-

#DIV/0!

All other sources for mortgageable uses

$-

#DIV/0!

Ancillary Occupancy Percentage

100.00%

Net Commercial Income to Project

$-

#DIV/0!

Net Residential and Ancillary income

$-

$-

$-

$-

$-

Three BR Units

0

0

Management Agent:

0

1-of-1 Management Agent?

0

Four BRs or more

0

0

$-

#DIV/0!

$-

All other sources for mortgageable uses

$-

#DIV/0!

$-

#DIV/0!

Effective Gross Residential Income

$-

#DIV/0!

Total Project Net Income

$-

#DIV/0!

Commercial Income after vacancy and Expenses

$-

$-

$-

$-

$-

Four BRs or more

0

0

Project Name:

0

FHA #

0

Total rev. producing units

0

Residential Rental Income Per Month:

$-

Total

$-

#DIV/0!

Uses

Total

per unit

Total Resdntl. & Anclry Project Expenses (incl. R4R)

$-

#DIV/0!

Residential and Ancillary Income Expense Ratio

#DIV/0!

Effective Gross Income

$-

$-

$-

$-

$-

Total revenue units

0

Street Address:

0

Net Income Calculation

Uses

Total

per unit

Initial Operating Deficit:

$-

#DIV/0!

Net Residential and Ancillary Income to Project

$-

#DIV/0!

Commercial Expense ratio

#DIV/0!

Expenses (including R4R deposits)

$-

$-

$-

$-

$-

Non Revenue units

0

City / ST / Zip:

/ /

County:

0

Total Monthly Potential Residential Rental Income:

$-

Existing Land/Project Debt:

$-

#DIV/0!

Working Capital:

$-

#DIV/0!

NOI

$-

$-

$-

$-

$-

Total Units

0

count for PUPA Expense

0

Sect. of Act:

0

0

Residential Vacancy Rate:

0.00%

Vacancy on Residential Income:

$-

Total for All Improvements:

$-

#DIV/0!

Contingency:

$-

#DIV/0!

Debt Service (including MIP)

$-

$-

$-

$-

$-

Financial Inflows

Financial Outflows

Per unit

Per unit

Date of Site Visit:

12/30/1899

Site Visit Conducted by:

0

Other/Ancillary Income as a % of Pot. Residtl Rent:

#DIV/0!

Total Gross Other / Ancillary Income Per Month:

$-

Total Carrying and Financing Charges:

$-

#DIV/0!

All other mortgageable uses

$-

#DIV/0!

Mortgage Amount

$-

Debt Service

$-

#DIV/0!

Cash flow after Debt Service

$-

$-

$-

$-

$-

Estimated Project Gross Rental Income

$0

Residential & Ancillary Vacancy Loss

$0

Rent

#DIV/0!

Vcncy

#DIV/0!

Date of Site Visit:

12/30/1899

Site Visit Conducted by:

0

Ancillary Vacancy Rate:

0.00%

Other / Ancillary Income Vacancy loss Per Month:

$-

Legal, Org, Audit:

$-

#DIV/0!

$-

#DIV/0!

Cash flow after Debt Service

$-

#DIV/0!

Debt Service Coverage ratio

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Ancillary Income

$0

Commercial Vacancy Loss & Expense

$0

Anc. Inc.

#DIV/0!

Comm V&Exp

#DIV/0!

Purpose of Loan:

0

Note: Gross Residtl, Anc. & other

$-

Escrow

$-

#DIV/0!

amount monthly rents may drop before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Estimated Commercial Income

$0

Residential Expenses

$0

Comm.

#DIV/0!

Expenses

#DIV/0!

Note: Combined Vacancy loss:

$-

Effective Gross Residential & Ancillary Income:

$-

Initial Deposit to R & R

$-

#DIV/0!

Operating Summary

Total

per unit

%

amount PUPA expenses may increase before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Reserve for replacements

$0

Rsrv

#DIV/0!

Type of Project:

# of units

BR count

# of units market vs. subsidized

If applicable, breakdown of Affordable (or Tax Credit) unit restrictions:

Note: EGI excl. commercial income :

$-

Gross Commercial Space Income:

$-

All other mortgageable uses

$-

$-

Rental & Anclry Income

$-

#DIV/0!

#DIV/0!

amount unit vacancy rate may increase before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Debt Service

$0

DS

#DIV/0!

Family

0

-

Studios

Market Rate

-

@ 30% AMI

-

Commercial Vacancy Rate:

0.00%

Less Vacancy on Commercial Space Income:

$-

Total

$-

#DIV/0!

Vacancy Loss

$-

#DIV/0!

#DIV/0!

Net Commercial Income as a % of Effective Gross Income

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Cash flow after Debt Service

$0

CF

#DIV/0!

Elderly

0

-

1BR Units

Section 8

-

@ 40% AMI

-

Net Rentable Commercial Area (sq ft)

-

Net Commercial Space Occupancy Income:

$-

Sources / Mortgage able Uses

Non-Mortgage able Sources/Uses

Net Commercial Income

$-

#DIV/0!

#DIV/0!

year 6

year 7

year 8

year 9

year 10

Total

$0

$0

Coop

0

-

2BR Units

Other subsidy

-

@ 50% AMI

-

Net Rentable Residential Area (sq ft)

-

Commercial Expense if any is separately shown in 2264, p 4, Sect g, ln 32d:

$-

FHA 1st mortgage

$-

Borrower Cash:

$-

Annual Residential Expenses (excl R4R)

$-

#DIV/0!

#DIV/0!

Residential Income after vacancy

$-

$-

$-

$-

$-

SRO

0

-

3BR Units

@ 60% AMI

-

Gross Floor Area (sq ft)

-

Net Commercial Space Income:

$-

Borrower Cash Equity/(Cash Out)

$-

Letter of Credit:

$-

Annual Reserve for Replacements

$-

#DIV/0!

#DIV/0!

Net Ancillary Income after vacancy

$-

$-

$-

$-

$-

-

4 or more BR Units

Total Tax Credit rent restricted units

-

Non-revenue units

0

0

Net Monthly Income before Expenses

$-

Existing Escrows:

$-

Tax Credit or Exchange Proceeds:

$-

Net Operating Income:

$-

#DIV/0!

#DIV/0!

Net Residential and Ancillary income

$-

$-

$-

$-

$-

-

Non Revenue units

Net Commercial Income (as a % of gross income):

#DIV/0!

Unit count for PUPA figures:

0

Net Annual Income before Expenses

$-

Tax Credit Equity:

$-

Public funds – Grants:

$-

Debt Service incl MIP

$-

#DIV/0!

#DIV/0!

Commercial Income after vacancy and Expenses

$-

$-

$-

$-

$-

Total units

-

Total units (mkt/subs count):

-

Commercial Space (as a % of net rentable area of project):

#DIV/0!

Operating Expenses and NOI

Public Grants or Loans:

$-

Public funds – Loans:

$-

Cash Flow

$-

#DIV/0!

#DIV/0!

Effective Gross Income

$-

$-

$-

$-

$-

Projections assuming Rents Increase @ 2.0%, Expenses @ 3.0% and Occupancy of 100.0%

Mortgage Criteria

Sensitivity Analysis

per unit per month

per unit per year

Other Sources:

$-

Deferred Developer Fee:

$-

Expenses (including R4R deposits)

$-

$-

$-

$-

$-

year 1

year 2

year 3

year 4

year 5

Criteria-Determined Mortgage Amount:

$-

A 1.0 debt service coverage ratio is still realized if:

Expenses (per unit)

#DIV/0!

#DIV/0!

Annual Residential Expenses (excl R4R)

$-

Other Sources:

$-

Other:

$-

NOI

$-

$-

$-

$-

$-

NOI Projections assuming Rents Increase @ 2.0%, Expenses @ 3.0% and Occupancy of 100.0%

$0

$0

$0

$0

$0

Borrower Requested, criterion 1:

$-

Average rent (per unit per month) decreases by:

#DIV/0!

R4R (per unit)

#DIV/0!

#DIV/0!

Annual Reserve for Replacements

$-

Total Cash Sources for Mortgage able Items:

$-

Total Cash Sources for Non-mortgage able Items:

$-

Debt Service (including MIP)

$-

$-

$-

$-

$-

Debt Service (including MIP)

$0

$0

$0

$0

$0

0%

of Cost, criterion 3:

$-

Physical occupancy decreases by:

#DIV/0!

Total PUPA

#DIV/0!

#DIV/0!

Expense Ratio:

#DIV/0!

Total Annual Expenses

$-

Existing Land/Project Debt:

$-

Initial Operating Deficit:

$-

Cash flow after Debt Service

$-

$-

$-

$-

$-

Cash flow after Debt Service

$0

$0

$0

$0

$0

Statutory Limit, criterion 4:

$-

Operating expenses increase by:

#DIV/0!

per unit per month

per unit per year

Net Operating Income:

$-

Total for All Improvements:

$-

Working Capital:

$-

Debt Service Coverage ratio

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Debt Service Coverage ratio

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

0%

of NOI, criterion 5:

$-

PUPA, Operating expenses, increase by:

#DIV/0!

Management Fee (per unit)

#DIV/0!

#DIV/0!

Total Carrying and Financing Charges:

$-

Contingency:

$-

amount monthly rents may drop before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Subsidy Layering, criterion 11:

$-

Total Annual NOI decreases by:

$-

Management Fee (as a % of EGI):

#DIV/0!

Legal, Org, Audit:

$-

Developer Fee:

$-

amount PUPA expenses may increase before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Mortgage Information Summary

Escrow

$-

GNMA fee or Lender Legal

$-

amount vacancy rate may increase before reaching a 1.0 debt service coverage

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Selected Project Information - Total

Selected Project Information - Total

Mortgage Amount Assumed

$0

Debt Service Coverage Ratio (including MIP):

#DIV/0!

HUD %

Alternative DSC

Net Operating Income:

$-

Initial Deposit to R & R

$-

Disallowed Construction or Arch. Contract Costs:

$-

Net Commercial Income as a % of Effective Gross Income

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

#DIV/0!

Loan-to- Mortgageable Replacement Cost:

0%

Permanent Interest Rate:

0.00%

SOA Applicable NOI %

0.00%

#DIV/0!

Amt. available for Debt Service

#DIV/0!

Total HUD-recognized Uses (to be paid with cash):

$-

Total Non-mortgageable Uses:

$-

Loan Amount

$0

#DIV/0!

Rents, Expenses, DS, Reserves

Interest Rate during Construction:

0.00%

Permanent loan term

$-

Mortgage Amount

$-

Miscellaneous Information

Year 1 sensitivity to certain assumptions

Difference in measurment

Change in measurment

Sponsor Cash/Equity

$0

#DIV/0!

Per month

Per year

Construction Period + 2 months:

0

Permanent Loan Interest rate

0.00%

Principal & Interest (monthly)

$-

Lender Financing / Placement Fee:

$-

Financing / Placement Fee as a % of loan amount:

$-

Underwritten Average rent

#DIV/0!

Other Sources of Mortgageable Costs

$0

Average Rent- 0. rev. units

#DIV/0!

#DIV/0!

Absorption rate (# of units per month):

0

Monthly Payments (P&I, plus MIP):

$-

Permanent loan Curtail Rate

0.00%

FHA Application Fee ($3/1000 of loan amt):

$-

Lender Third Party Reports:

0

Average Rent which results in 1.0 DSC

#DIV/0!

#DIV/0!

#DIV/0!

Mortgageable Costs

Expenses- 0. tot. units

#DIV/0!

#DIV/0!

MIP

0.00%

MIP initial monthly payment

$-

Cost Not Attributable – Residential:

$-

Cost Not Attributable – Commercial:

$-

Underwritten Residential Vacancy

0.00%

Land Value

$0

#DIV/0!

Debt Service- 0. tot. units

#DIV/0!

#DIV/0!

All-in rate

0.00%

Debt Service & MIP monthly

$-

Land Value:

$-

Land Cost – Last Arms Length Transaction:

$-

Vacancy which results in a 1.0 DSC

#DIV/0!

#DIV/0!

#DIV/0!

Improvements

$0

#DIV/0!

Reserve For Repl.- 0. tot. units

#DIV/0!

#DIV/0!

HUD file release:

Lenders file release:

Calculated DSC

#DIV/0!

Annual Debt Service, including MIP:

$-

Builders Profit:

$-

BSPRA or SPRA:

$-

Underwritten PUPA expenses (incl. R4R)

#DIV/0!

All other Costs

$0

#DIV/0!

November 30, 2011

Not specified

Mortgage loan per unit:

#DIV/0!

Cash Flow after Debt Service:

$-

Construction cost per square foot:

$-

PUPA expenses which results in a 1.0 DSC

#DIV/0!

#DIV/0!

#DIV/0!

OID

$0

#DIV/0!

Working Capital

$0

#DIV/0!

---

Sheet 4: HUD Data Input-Lender Docs Rpt

Date of Data run (date of app. or amended app.)

Date of Data run (date of app. or amended app.)

12/30/1899

Date of Data run (date of app. or amended app.)

12/30/1899

Date of Data run (date of app. or amended app.)

12/30/1899

Basic Lender and Third Party team member information

Appraisal or Market Study Data - page 1

Appraisal or Market Study Data - page 2; Environmental & Geo: A&E

Appraisal or Market Study Data - page 3

Input description

Input description

Input

Source

Input description

Input

Source

Input description

Input

Source

Project Name

Property - designation

See Appraisal Report

Comp 5 - designation

See Appraisal Report

MSA:

See Market Study

Underwriter [or for TAP deals, point of contact]-Name

Property - Price

See Appraisal Report

Comp 5 - Price

See Appraisal Report

Penetration Rate:

See Market Study

Underwriter [or for TAP deals, point of contact]-Lender

Property - Date of Sale

See Appraisal Report

Comp 5 - Date of Sale

See Appraisal Report

Capture Rate:

See Market Study

Underwriter [or for TAP deals, point of contact]-Phone

Property - Number of units

See Appraisal Report

Comp 5 - Number of units

See Appraisal Report

Absorption Rate:

See Market Study

Underwriter [or for TAP deals, point of contact]-E-mail address

Property - Price per unit

See Appraisal Report

Comp 5 - Price per unit

See Appraisal Report

Stabilized Occupancy:

See Market Study

U.W. Trainee-Name

Property - Sq/Ft

See Appraisal Report

Comp 5 - Sq/Ft

See Appraisal Report

Project Name - First project

See Market Study

U.W. Trainee-Lender

Property - Price per Sq/Ft

See Appraisal Report

Comp 5 - Price per Sq/Ft

See Appraisal Report

Year Built - First project

See Market Study

U.W. Trainee-Phone

Property - EGIM

See Appraisal Report

Comp 5 - EGIM

See Appraisal Report

Number of Units - First project

See Market Study

U.W. Trainee-E-mail address

Property - Expenses per unit

See Appraisal Report

Comp 5 - Expenses per unit

See Appraisal Report

Occupancy Rate - First project

See Market Study

Analyst / Processor-Name

Property - Expense ratio

See Appraisal Report

Comp 5 - Expense ratio

See Appraisal Report

Units Offered - First project

See Market Study

Analyst / Processor-Lender

Property - Total Adjustments

See Appraisal Report

Comp 5 - Total Adjustments

See Appraisal Report

Tenant Profile - First project

See Market Study

Analyst / Processor-Phone

Property - Indication per unit

See Appraisal Report

Comp 5 - Indication per unit

See Appraisal Report

Project Name - Second project

See Market Study

Analyst / Processor-E-mail address

Property - Indication per SF or Acre

See Appraisal Report

Comp 5 - Indication per SF or Acre

See Appraisal Report

Year Built - Second project

See Market Study

Construction Loan Administrator-Name

Property - Capitalization Rate

See Appraisal Report

Comp 5 - Capitalization Rate

See Appraisal Report

Number of Units - Second project

See Market Study

Construction Loan Administrator-Lender

Comp 1 - designation

See Appraisal Report

Historical Comparison of Operations chart from Lender Narrative (Rehab d4/223f only)

Occupancy Rate - Second project

See Market Study

Construction Loan Administrator-Phone

Comp 1 - Price

See Appraisal Report

Year 1 (ending mm/dd)

See Project Financial Statements

Units Offered - Second project

See Market Study

Construction Loan Administrator-E-mail address

Comp 1 - Date of Sale

See Appraisal Report

Year 1 - Net Income

See Project Financial Statements

Tenant Profile - Second project

See Market Study

Originator-Name

Comp 1 - Number of units

See Appraisal Report

Year 1 - Operating Exp

See Project Financial Statements

Project Name - Third project

See Market Study

Originator-Lender

Comp 1 - Price per unit

See Appraisal Report

Year 1 - OE PUPA

See Project Financial Statements

Year Built - Third project

See Market Study

Originator-Phone

Comp 1 - Sq/Ft

See Appraisal Report

Year 1 - NOI

See Project Financial Statements

Number of Units - Third project

See Market Study

Originator-E-mail address

Comp 1 - Price per Sq/Ft

See Appraisal Report

Year 2 (ending mm/dd)

See Project Financial Statements

Occupancy Rate - Third project

See Market Study

Architecture and Engineering-Name

Comp 1 - EGIM

See Appraisal Report

Year 2 - Net Income

See Project Financial Statements

Units Offered - Third project

See Market Study

Architecture and Engineering-Firm

Comp 1 - Expenses per unit

See Appraisal Report

Year 2 - Operating Exp

See Project Financial Statements

Tenant Profile - Third project

See Market Study

Architecture and Engineering-Phone

Comp 1 - Expense ratio

See Appraisal Report

Year 2 - OE PUPA

See Project Financial Statements

Project Name - Fourth project

See Market Study

Architecture and Engineering-E-mail address

Comp 1 - Total Adjustments

See Appraisal Report

Year 2 - NOI

See Project Financial Statements

Year Built - Fourth project

See Market Study

Cost-Name

Comp 1 - Indication per unit

See Appraisal Report

Year 3 (ending mm/dd)

See Project Financial Statements

Number of Units - Fourth project

See Market Study

Cost-Firm

Comp 1 - Indication per SF or Acre

See Appraisal Report

Year 3 - Net Income

See Project Financial Statements

Occupancy Rate - Fourth project

See Market Study

Cost-Phone

Comp 1 - Capitalization Rate

See Appraisal Report

Year 3 - Operating Exp

See Project Financial Statements

Units Offered - Fourth project

See Market Study

Cost-E-mail address

Comp 2 - designation

See Appraisal Report

Year 3 - OE PUPA

See Project Financial Statements

Tenant Profile - Fourth project

See Market Study

Environmental-Name

Comp 2 - Price

See Appraisal Report

Year 3 - NOI

See Project Financial Statements

Environmental-Firm

Comp 2 - Date of Sale

See Appraisal Report

YTD - Annualized

See Project Financial Statements

Environmental-Phone

Comp 2 - Number of units

See Appraisal Report

YTD - Net Income

See Project Financial Statements

Environmental-E-mail address

Comp 2 - Price per unit

See Appraisal Report

YTD - Operating Exp

See Project Financial Statements

Appraiser-Name

Comp 2 - Sq/Ft

See Appraisal Report

YTD - OE PUPA

See Project Financial Statements

Appraiser-Firm

Comp 2 - Price per Sq/Ft

See Appraisal Report

YTD - NOI

See Project Financial Statements

Appraiser-Phone

Comp 2 - EGIM

See Appraisal Report

Appraiser-E-mail address

Comp 2 - Expenses per unit

See Appraisal Report

Input description

Input

Market Analyst-Name

Comp 2 - Expense ratio

See Appraisal Report

Environmental & Geotechnical

See Phase One

Market Analyst-Firm

Comp 2 - Total Adjustments

See Appraisal Report

Phase I

See Phase One

Market Analyst-Phone

Comp 2 - Indication per unit

See Appraisal Report

Date of Report

See Phase One

Market Analyst-E-mail address

Comp 2 - Indication per SF or Acre

See Appraisal Report

Consultant

See Phase One

Other-Name

Comp 2 - Capitalization Rate

See Appraisal Report

Conclusion:

See Phase One

Other-Firm

Comp 3 - designation

See Appraisal Report

Phase II

See Phase One

Other-Phone

Comp 3 - Price

See Appraisal Report

Date of Report

See Phase One

Other-E-mail address

Comp 3 - Date of Sale

See Appraisal Report

Consultant

See Phase One

Other-Name

Comp 3 - Number of units

See Appraisal Report

Conclusion:

See Phase One

Other-Firm

Comp 3 - Price per unit

See Appraisal Report

Phase I: - Risk1:

See Phase One

Other-Phone

Comp 3 - Sq/Ft

See Appraisal Report

Phase II: - Mitigant1:

See Phase One

Other-E-mail address

Comp 3 - Price per Sq/Ft

See Appraisal Report

Phase I: - Risk2:

See Phase One

Comp 3 - EGIM

See Appraisal Report

Phase II: - Mitigant2:

See Phase One

Comp 3 - Expenses per unit

See Appraisal Report

Phase I: - Risk3:

See Phase One

Comp 3 - Expense ratio

See Appraisal Report

Phase II: - Mitigant3:

See Phase One

Comp 3 - Total Adjustments

See Appraisal Report

Geotechnical/Soils Report

Comp 3 - Indication per unit

See Appraisal Report

Soils Report Received (Yes or No)

See Phase One

Comp 3 - Indication per SF or Acre

See Appraisal Report

Date of Report

See Phase One

Comp 3 - Capitalization Rate

See Appraisal Report

Consultant

See Phase One

Comp 4 - designation

See Appraisal Report

Conclusion:

See Phase One

Comp 4 - Price

See Appraisal Report

Seismic Report

Comp 4 - Date of Sale

See Appraisal Report

Seismic Report Received

See Seimic Report

Comp 4 - Number of units

See Appraisal Report

Is Project in Seismic Zone 3 or 4

See Seimic Report

Comp 4 - Price per unit

See Appraisal Report

If yes, do we have PML

See Seimic Report

Comp 4 - Sq/Ft

See Appraisal Report

Is PML less than or equal to 20%

See Seimic Report

Comp 4 - Price per Sq/Ft

See Appraisal Report

Conclusion:

See Seimic Report

Comp 4 - EGIM

See Appraisal Report

Comp 4 - Expenses per unit

See Appraisal Report

Comp 4 - Expense ratio

See Appraisal Report

Input description

Input

Comp 4 - Total Adjustments

See Appraisal Report

A/E- plans and specs/construction timing

See Appraisal Report or Market Study

Comp 4 - Indication per unit

See Appraisal Report

Construction Start:

See Appraisal Report or Market Study

Comp 4 - Indication per SF or Acre

See Appraisal Report

Construction Completion:

See Appraisal Report or Market Study

Comp 4 - Capitalization Rate

See Appraisal Report or Market Study

#months:

See Appraisal Report or Market Study

PCNA Report

Type "yes" if completed & summary attached, "N/A" if not applicable:

See PCNA report

If applicacable, give date:

See PCNA report

Repair Category:Critical -Amount

See PCNA report

Repair Category:Non-Critical* -Amount

See PCNA report

Replacement Reserves Analysis:

Existing R4R Balance

Application

Existing R4R Balance-Amount per unit

Application

Replacement Reserve Initial Deposit

Application

Replacement Reserve Initial Deposit -Amount per unit

Application

Replacement Reserve Annual Deposit

Application

Replacement Reserve Annual Deposit -PUPA:

Application

---

Sheet 5: Output-HUD Lender Docs Report

	Lender Team Profile					Date of Data run (date of app. or amended app.)	12/30/1899					Market Profile					Date of Data run (date of app. or amended app.)	12/30/1899					Comparables Profile					Date of Data run (date of app. or amended app.)	12/30/1899					Environmental Assessment				Date of Data run (date of app. or amended app.)	12/30/1899						A & E; PCNA					Date of Data run (date of app. or amended app.)	12/30/1899
							12/30/1899											12/30/1899											12/30/1899											12/30/1899											12/30/1899
	Lender’s Team & Third Party Consultants											Market	N/A										Valuation - *Enter n/a were not applicable on 221(d)4 new construction projects											Environmental & Geotechnical											A/E- plans and specs/construction timing			0
	Role	Name		Lender		Phone	E-mail address					MSA:	0		Capture Rate:		0						Comparable Analysis	Property	Comp 1	Comp 2	Comp 3	Comp 4	Comp 5					Phase I											Construction Start:	12/30/1899	Construction Completion:		12/30/1899	#months:	*
	Underwriter [or for TAP deals, point of contact]	0		0		-	0					Penetration Rate:	0		Absorption Rate:		0						Price	-	-	-	-	-	-					Date of Report	Saturday, December 30, 1899
	U.W. Trainee	0		0		-	0								Stabilized Occupancy:		0						Date of Sale	12/30/1899	12/30/1899	12/30/1899	12/30/1899	12/30/1899	12/30/1899					Consultant	0										PCNA Report	**For 223(f) Refinance Only**		Type "yes" if completed & summary attached, "N/A" if not applicable:			0
	Analyst / Processor	0		0		-	0																Number of units	0	0	0	0	0	0					Conclusion:														If applicable, give date:		0
	Construction Loan Administrator	0		0		-	0					Comparables from Market Analysis and EMAS											Price per unit	-	-	-	-	-	-					0											Repair Category	Repair Description					Amount
	Originator	0		0		-	0					Project Name	Year Built	Number of Units	Occupancy Rate	Units Offered	Tenant Profile						Sq/Ft	-	-	-	-	-	-																Critical
												0	0	0	0	0	0						Price per Sq/Ft	0	0	0	0	0	0					Phase II												See Attached Exhibit "A"					-
	Third Party Consultants											0	0	0	0	0	0						EGIM	$-	$-	$-	$-	$-	$-					Date of Report	Saturday, December 30, 1899										Non-Critical*
	Role	Name		Firm		Phone	E-mail address					0	0	0	0	0	0						Expenses per unit	$-	$-	$-	$-	$-	$-					Consultant	0											See Attached Exhibit "B"					-
	Architecture and Engineering	0		0		-	0					0	0	0	0	0	0						Expense ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%					Conclusion:																	-
	Cost	0		0		-	0																Total Adjustments	$-	$-	$-	$-	$-	$-					0																	-
	Environmental	0		0		-	0																Indication per unit	$-	$-	$-	$-	$-	$-																Rehabilitation Repairs Total					**	-
	Appraiser	0		0		-	0																Indication per SF or Acre	0	0	0	0	0	0					Phase I:				Phase II:							*PCNA must include repairs elected by the owner as non-critical repairs.**to sum column click on cell and hit F9 key
	Market Analyst	0		0		-	0																Capitalization Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%					Risk1:	0			Mitigant1:	0						Replacement Reserves Analysis:
	Other	0		0		-	0																Historical Comparison of Operations chart from Lender Narrative (Rehab d4/223f only)											Risk2:	0			Mitigant2:	0						Existing R4R Balance			$-	Amount per unit	$-
	Other	0		0		-	0																Year (ending 12/31)	Net Income	Operating Exp	OE PUPA	NOI	No. of Units >>	#REF!					Risk3:	0			Mitigant3:	0						Replacement Reserve Initial Deposit			$-	Amount per unit	$-
																							12/30/1899	$-	$-	$-	$-							Geotechnical/Soils Report											Replacement Reserve Annual Deposit			$-	PUPA:	$-
																							12/30/1899	$-	$-	$-	$-							Soils Report Received			0
																							12/30/1899	$-	$-	$-	$-							Date of Report	Saturday, December 30, 1899
																							YTD - Annualized	$-	$-	$-	$-							Consultant	Saturday, December 30, 1899
																																		Conclusion:
																																		0
																																		Seismic Report
																																		Seismic Report Received			0
																																		Is Project in Seismic Zone 3 or 4				0
																																		If yes, do we have PML				0
						HUD file release:	Lenders file release:																											Is PML less than or equal to 20%		0
						November 30, 2011	Not specified																											Conclusion:
																																		0

---

Sheet 6: Sheet1

	Loan Committee tracking data				Date of Data run (date of app. or amended app.)	12/30/1899
	NLC decisions tracking data
	Hub
	Program Center
	Originating Lender	Lender Name:	12/30/1899
	Project Number	FHA #	0
	Project Name	Project Name:	-
	Project City	City	-
	Project State	State	0
	SOA (Program)	Section of the Act (SOA):	$-
	Activity	Loan type: NC, SR, Refi, Purch/Refi	-92264-a, 1-. - Type of Project
	Mortgage Amount	FHA 1st mortgage:	$-
	Units		0	Calculated in report
	Mortg $/Unit		#DIV/0!	Could be calculated
	Stage	Stage of Processing:	0
	Decision			?
	Decision Date			?
	Average Rent	$-	#DIV/0!	Could be calculated	Residential Rental Income Per Month:	$-	-
	Operating Expenses (PUPA)	$-	#DIV/0!	Calculated in report	Total PUPA	#DIV/0!
	Intial RR Deposit- Existing Only	Initial Deposit to R & R	$-
	Annual RR Deposit/Unit	Replacement reserve not included in expenses	$-	Could be calculated	Replacement reserve not included in expenses	$-	-
	LTV or LTC
	Cap Rate - 223(f) Only	Property - Capitalization Rate	0%
	DSCR			Calculated in report	Calculated DSC	#DIV/0!
	% Comm Space	$-	#DIV/0!	Calculated in report	$-	0%
	% Comm Income	$-	#DIV/0!	Calculated in report	$-	0%
	Cash Out or LE + BSPRA
	Borrower- Experience & Strength
	Loan Criterion
	Land Contribution:Sponsor Equity
	IOD:% of Mtg Amt			Could be calculated	Initial Operating Deficit:	$-	$-
	IOD:Months Debt Service			Could be calculated
	Null
	Item Type
	Path