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e-CFR data is current as of July 9, 2020

Title 24Subtitle BChapter IISubchapter BPart 241Subpart E → §241.1010


Title 24: Housing and Urban Development
PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
Subpart E—Insurance for Equity Loans and Acquisition Loans—Eligibility Requirements


§241.1010   Feasibility letter.

(a) Request for study. The owner may request the Commissioner to undertake a feasibility analysis of an equity or acquisition loan, and issue a feasibility letter. At the discretion of the Commissioner the feasibility analysis may be undertaken or denied.

(b) Findings. The issuance of a feasibility letter indicates completion of the Commissioner's preliminary analysis for the insurance of an equity or acquisition loan. The feasibility letter shall contain the Commissioner's estimate of the supportable loan amount, based upon the project's equity in the case of an equity loan and based on the project's purchase price in the case of an acquisition loan, but such feasibility letter shall neither constitute a commitment to insure nor bind the Commissioner in any other manner.

(c) Fee. The Commissioner shall not charge a fee for undertaking a feasibility analysis or for the issuance of a feasibility letter.

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