1. LawStack
  2. Title 24 - Housing and Urban Development
  3. Subtitle B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENT
  4. Chapter IX - OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
  5. Part 1000 - NATIVE AMERICAN HOUSING ACTIVITIES
  6. Subpart E - Federal Guarantees for Financing of Tribal Housing Activities
  7. 24 CFR § 1000.422
24 CFR § 1000.422
What are the procedures for applying for loan guarantees under title VI of NAHASDA?
February 22, 2021
CFR

(a) The borrower applies to the lender for a loan using a guarantee application form prescribed by HUD.

(b) The lender provides the loan application to HUD to determine if funds are available for the guarantee. HUD will reserve these funds for a period of 90 days if the funds are available and the applicant is otherwise eligible under this subpart. HUD may extend this reservation period for an extra 90 days if additional documentation is necessary.

(c) The borrower and lender negotiate the terms and conditions of the loan in consultation with HUD.

(d) The borrower and lender execute documents.

(e) The lender formally applies for the guarantee.

(f) HUD reviews and provides a written decision on the guarantee.

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§ 1000.420 May grants made by HUD under section 603 of NAHASDA be used to pay net interest costs incurred when issuing notes or other obligations?
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§ 1000.424 What are the application requirements for guarantee assistance under title VI of NAHASDA?

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