OPG 4.11 F47 Clearance Certification

OMB No. 2502-0533
(Exp, 12/31/2017)

Mark-to-Market
F47 Clearance Certification

Form 4.11

FORM 4.11 OR 4.12 MANDATORY AT PLAN AND PARTIAL PAYMENT OF CLAIM (PPC)
SUBMISSIONS

PAE must submit Form 4.11 (with required attachments) to the Preservation Office Closing
Coordinator (POCC) during due diligence, ONLY if there are NO F47 discrepancies with
either the UPB or the Mortgagee or Servicer of Record. If POCC concurs with the PAE’s
findings, the POCC signs and returns the Form and attachments to the PAE, for submission
(with attachments) with the Restructuring Plan to Recap. A copy of the fully executed Form 4.11
(without attachments) must be submitted with the PPC package.
DO NOT USE THIS FORM if there is a UPB discrepancy AND/OR a discrepancy with the
Mortgagee and/or Servicer of Record in F47. The PAE must submit an original Form 4.12 with
required attachments (the Form 4.12 Reconciliation Package) to the POCC and provide a copy
of the Form 4.12, signed by the Recap HQ Closing Specialist, with the PPC package , if either
such discrepancy exists.
F47 Certification Date:

Dear Preservation Office Director:
This letter is to certify that there are no outstanding F47 issues for the following property.
(PAE must fill in data)
Project Name:
FHA Number:
REMS I.D. #:
PAE Contact Name: _____________________________________
PAE Phone & Email: ___________________________________
Unpaid Principal Balance
We have reviewed all of the Lender’s payoff information for the above project and have
compared that information to the F47 system E08 printout (with UPB) and H01 printout with
current mortgagee and servicer information and determined that there is not an F47 discrepancy
and no circumstances presently exist that would require submission of an F47 reconciliation
package to Recap. (PAE must check appropriate box and fill in blanks)

August 2005

Form 4.11, Page 1

1. Based on the comparison of the HUD F47 UPB and Lender UPB we have determined
that the balances match or the difference is within the Allowable Threshold (defined
as the Lender’s UPB being less than HUD F47 by an amount equal to or less than
two months of principal payments as of the UPB comparison date),
F47 AMOUNT and date_________________________________
LENDER UPB and date_________________________________
PAE completes the following:
(1) Current P&I=_______________________
(2) Principal only portion of Current P&I above is $_________________
(3) 2 X Principal amount above = $_____________________
OR
2. The Lender’s UPB is greater than the HUD F47 UPB and the owner WILL pay the
difference from the owner’s funds at closing. The approximate amount of this
discrepancy that the owner intends to pay at the closing table is ______________.
(NOT eligible for CRP).
F47 AMOUNT______________________ F47 DATE _____________
LENDER UPB______________________ LENDER DATE____
AND
Mortgagee of Record
3.

The Mortgagee’s and Servicer’s names, F47 Identification Numbers, and Taxpayer
Identification Numbers, on HUD’s F47 database (as reflected on the H-01 printout/s)
match with the current lender/servicer mortgagee of record information.

Attached are ALL of the documents (Lender and HUD) used in making this clearance
determination. Attachments should include:
Lender UPB and source of current Mortgagee and Servicer names & identification numbers and
taxpayer identification numbers
HUD F47 E-08 printout
HUD F47 H-01 printouts
Any other legal, financial, or amortization documentation used in making this determination.

August 2005

Form 4.11, Page 2

Signed and Certified by:
__________________________________
(PAE Official_______________________)
(Title)_______________________________
cc:

Debt Restructuring Specialist

Form 4.11 Concurrence to be completed by Preservation Office
POCC must review the Form 4.11 and the attachments and sign below - ONLY if they concur.
To the PAE & Loan Committee:
I have completed a review of the above certification and supporting documentation and concur in
the PAE’s determination that no circumstances presently exist that would require submission of
Form 4.12, F47 Reconciliation Form.
Signed and Concurred:
________________________________________
(POCC Official)__________________________
(Title) __________________________________
cc:

Debt Restructuring Specialist

Public reporting burden for this collection of information is estimated to average 3.5 hour per
response, including the time for reviewing instructions, searching existing data sources,
gathering and maintaining the data needed, and completing and reviewing the collection of
information. This information is required to obtain benefits. The Office of Multifamily Housing,
Office of Recapitalization, 451 7th Street SW, Room 6230 Washington, DC 20410. HUD may
not collect this information, and you are not required to complete this form, unless it displays a
currently valid OMB control number. Title V of the Departments of Veterans Affairs and
Housing and Urban Development and Independent Agencies Appropriations Act of 1988
(P.L.105-65, 111 Stat. 1384) authorizes the FHA Multifamily Housing Mortgage and Housing
Assistance Restructuring Program. HUD implemented a statutory permanent program directed
at FHA-insured multifamily projects that have project- based Section 8contracts with abovemarket rents. The information collection is used to determine criteria eligibility of FHA-insured
multifamily properties for participation in the Mark to Market program and the terms on which
participation should occur. The purpose of the program is to preserve low-income rental housing
affordability while reducing the long-term costs of Federal rental assistance. While no
assurances of confidentiality are pledged to respondents, HUD generally discloses this data only
in response to a Freedom of Information request.

August 2005

Form 4.11, Page 3