HUD 24 CFR PART 573-2010 LOAN GUARANTEE RECOVERY FUND《贷款担保复苏基金》.pdf

1、198 24 CFR Ch. V (4110 Edition) Pt. 573 and records documenting the eligi-bility of each family selected for home-ownership. (d) Rehabilitation standards. The re-cipient must maintain written reha-bilitation standards required by 572.100(d)(5). (e) Cooperative and condominium agree-ments. The recipi

2、ent must maintain a copy of any condominium and coopera-tive association agreements for prop-erties under a homeownership program approved under this part. (f) Amounts available for reuse. The re-cipient must keep and make available to HUD all records necessary to cal-culate accurately payments due

3、to HUD under 572.135(b) and (c). (g) Access by HUD and the Comptroller General. For purposes of audit, exam-ination, monitoring, and evaluation, each recipient must give HUD (includ-ing any duly authorized representa-tives and the Inspector General) and the Comptroller General of the United States (

4、and any duly authorized rep-resentatives) access to any books, doc-uments, papers, and records of the re-cipient that are pertinent to assistance received under this part, including all records required to be kept under this section. (h) Reports. The recipient must sub-mit reports required by HUD. (

5、Approved by the Office of Management and Budget, with respect to implementation grants, under control number 25060128) PART 573LOAN GUARANTEE RECOVERY FUND Sec. 573.1 Authority and purpose. 573.2 Definitions. 573.3 Eligible activities. 573.4 Loan term. 573.5 Underwriting standards and avail-ability

6、of loan guarantee assistance. 573.6 Submission requirements. 573.7 Loan guarantee agreement. 573.8 Environmental procedures and stand-ards. 573.9 Other requirements. 573.10 Fees for guaranteed loans. 573.11 Record access and recordkeeping. AUTHORITY: Pub. L. 104155, 110 Stat. 1392, 18 U.S.C. 241 not

7、e; 42 U.S.C. 3535(d). SOURCE: 61 FR 47405, Sept. 6, 1996, unless otherwise noted. 573.1 Authority and purpose. Section 4 of the Church Arson Pre-vention Act of 1996 (Pub. L. 104155, ap-proved July 3, 1996) authorizes HUD to guarantee loans made by financial in-stitutions to certain nonprofit organi-

8、zations to finance activities designed to remedy the damage and destruction to real and personal property caused by acts of arson or terrorism. This part es-tablishes the general procedures and requirements that apply to HUDs guarantee of these loans. 573.2 Definitions. The following definitions are

9、 only ap-plicable to loan guarantees under this part, and are not criminal definitions. Act means The Church Arson Pre-vention Act of 1996 (Pub. L. 104155, approved July 3, 1996). Arson means a fire or explosion caus-ing damage to (or destruction of) real or personal property that a Qualified Certif

10、ication Official determines, or reasonably believes, to be deliberately set. Borrower means an organization de-scribed in section 501(c)(3) of the Inter-nal Revenue Code of 1986, as amended, whose property has been damaged or destroyed as a result of an act of arson or terrorism and that incurs a de

11、bt ob-ligation to a financial institution for the purpose of carrying out activities eligible under his part. Financial Institution means a lender which may be a bank, trust company, savings and loan association, credit union, mortgage company, or other issuer regulated by the Federal Deposit Insura

12、nce Corporation, the Office of Thrift Supervision, the Credit Union Administration, or the U.S. Comp-troller of the Currency. A Financial In-stitution may also be a Pension Fund. Guarantee means an obligation of the United States Government guaran-teeing payment of the outstanding principal loan amo

13、unt, in whole or in part, plus interest thereon, on a debt obligation of the Borrower to a Finan-cial Institution upon failure of the Bor-rower to repay the debt. Guaranteed Loan Funds means funds received by the borrower from the Fi-nancial Institution to finance eligible activities under this part

14、, the repay-ment of which is guaranteed by HUD. VerDate Nov2008 07:58 Apr 27, 2010 Jkt 220079 PO 00000 Frm 00208 Fmt 8010 Sfmt 8010 Y:SGML220079.XXX 220079WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-199 Ofc

15、. of Asst. Secy., Comm. Planning, Develop., HUD 573.5 Loan Guarantee Agreement means an agreement between a Financial Institu-tion and the Secretary detailing the rights, responsibilities, procedures, terms, and conditions under which a loan provided by a Financial Institu-tion to a Borrower may be

16、guaranteed under section 4 of the Act. Qualified Certification Official (QCO) (1) For the purpose of certifying an act of arson. A State or local official author-ized to investigate possible acts of arson. For the purposes of this defini-tion, such an official is authorized to execute an Official In

17、cident Report or its equivalent and may be an official or employee of such agencies as the local fire department, the local police de-partment, or the State Fire Marshall Office or its equivalent. The term Qualified Certification Official also includes HUD, which will consult with the Bureau of Alco

18、hol, Tobacco, and Firearms of the Department of the Treasury in making its determina-tions. (2) For the purpose of certifying an act of terrorism. The Secretary or his des-ignee, in consultation with the Federal Bureau of Investigation, shall deter-mine whether an act of violence is a terrorist act

19、or is reasonably believed to be a terrorist act. Section 4 Guaranteed Loan means a HUD guaranteed loan made by a Finan-cial Institution to a Borrower for the purpose of carrying out eligible activi-ties to address damage or destruction caused by acts of arson or terrorism. Terrorism means an act of

20、violence causing damage to (or destruction of) real or personal property that the Sec-retary or his designee, in consultation with the Federal Bureau of Investiga-tion, determines to be, or reasonably believes to be, a terrorist act, as de-fined by applicable Federal law or guidelines. 573.3 Eligibl

21、e activities. Guaranteed Loan Funds may be used by a Borrower for the following activi-ties when it is certified in accordance with 573.6(e) that the activity is nec-essary to address damage caused by an act or acts of arson or terrorism as cer-tified in accordance with 573.6(f): (a) Acquisition of

22、improved or unim-proved real property in fee or under long term lease. (b) Acquisition and installation of personal property. (c) Rehabilitation of real property owner, acquired, or leased by the Bor-rower. (d) Construction, reconstruction, or replacement of real property improve-ment. (e) Clearance

23、, demolition, and re-moval, including movement of struc-tures to other sites, of buildings, fix-tures and improvements on real prop-erty. (f) Site preparation, including con-struction, reconstruction, or installa-tion of site improvements, utilities, or facilities, which is related to the ac-tivitie

24、s described in paragraph (a), (c), or (d) of this section. (g) Architectural, engineering, and similar services necessary to develop plans in connection with activities fi-nanced under paragraph (a), (b), (c), or (d) of this section. (h) Acquisition, installation and res-toration of security systems

25、. (i) Loans for refinancing existing in-debtedness secured by a property which has been or will be acquired, con-structed, rehabilitated or recon-structed, if such financing is deter-mined to be appropriate to achieve the objectives of the Act and this part. (j) Other necessary project costs such as

26、 insurance, bonding, legal fees, ap-praisals, surveys, relocation, closing costs, etc., paid or incurred by the Bor-rower in connection with the comple-tion of the above activities. 61 FR 47405, Sept. 6, 1996, as amended at 62 FR 24574, May 6, 1997 573.4 Loan term. The term of the loan to be guaran-

27、teed by HUD under this part may not exceed 20 years. 573.5 Underwriting standards and availability of loan guarantee as-sistance. (a) HUD may, in its discretion, ac-cept the underwriting standards of the Financial Institution making a loan to a Borrower. (b) HUD will not make the loan guar-antee unl

28、ess it determines that the VerDate Nov2008 07:58 Apr 27, 2010 Jkt 220079 PO 00000 Frm 00209 Fmt 8010 Sfmt 8010 Y:SGML220079.XXX 220079WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-200 24 CFR Ch. V (4110 Editi

29、on) 573.6 guaranteed loan is an acceptable finan-cial risk under HUDs generally appli-cable loan underwriting standards based on the following: (1) The Borrowers ability to pay debt service; and (2) The value of the collateral as-signed or pledged as security for the re-payment of the loan. (c) The

30、provision of a loan guarantee to a Financial Institution and the amount of the guarantee do not depend in any way on the purpose, function, or identity of the organization to which the Financial Institution has made, or intends to make, a Section 4 Guaran-teed Loan. (d) HUD may disapprove a request

31、for loan guarantee assistance based on the availability of funding. (e) HUD may decline any Financial Institutions participation if its under-writing criteria are insufficient to make the guarantee an acceptable fi-nancial risk, or if the proposed interest rates or fees are unacceptable. HUD ex-pect

32、s the proposed interest rates to take into account the value of the Fed-eral guarantee. (f) HUD may limit the availability of Guaranteed Loan Funds to geographic areas having the greatest need, as de-termined by a needs analysis of the most current available date conducted by HUD. (g) Other requirem

33、ents associated with the underwriting standards and guidelines shall be contained in the Loan Guarantee Agreement. 573.6 Submission requirements. A Financial Institution seeking a Section 4 Guaranteed Loan must sub-mit to HUD the following documenta-tion: (a) A statement that the institution is a Fi

34、nancial Institution as defined at 573.2. (b) A statement that the Borrower is eligible as defined at 573.2. (c) A description of each eligible ac-tivity for which the loan is requested. (d) A statement of other available funds to be used to finance the eligible activities (e.g., insurance proceeds).

35、 (e) A certification by the Borrower that the activities to be assisted re-sulted from an act of arson or ter-rorism which is the subject of the cer-tification described in paragraph (f) of this section. (f) A certification by a QCO that the damage or destruction to be remedied by the use of the Gua

36、ranteed Loan Funds resulted from an act of arson or terrorism. (g) The environmental documenta-tion required by 573.8. (h) A narrative of the institutions underwriting standards used in review-ing the Borrowers loan request. (i) The interest rate on the loan and fees the lender intends to use in con

37、-nection with the loan; and (j) The percentage of the loan for which a guarantee is requested. 573.7 Loan guarantee agreement. (a) The rights and responsibilities with respect to the guaranteed loan shall be substantially described in an agreement entered into between the Fi-nancial Institution, as

38、the lender, and the Secretary, as the guarantor, which agreement shall provide that: (1) The lender has submitted or will submit a request for loan guarantee as-sistance that is accompanied by the Borrowers request for a loan to carry out eligible activities described in 573.3; (2) The lender will r

39、equire the Bor-rower to execute a promissory note promising to repay the guaranteed loan in accordance with the terms thereof; (3) The lender will require the Bor-rower to provide collateral security, to an extent and in a form, acceptable to HUD; (4) HUD reserves the right to limit loan guarantees

40、to loans financing the replacement of damaged property with comparable new property; (5) The lender will follow certain claim procedures to be specified by HUD in connection with any defaults, including appropriate notification of default as required by HUD; (6) The lender will follow procedures for

41、 payment under the guarantee whereby the lender will be paid (up to the amount of guarantee) the amount owed to the lender less any amount re-covered from the underlying collateral security for the loan; and VerDate Nov2008 07:58 Apr 27, 2010 Jkt 220079 PO 00000 Frm 00210 Fmt 8010 Sfmt 8010 Y:SGML22

42、0079.XXX 220079WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-201 Ofc. of Asst. Secy., Comm. Planning, Develop., HUD 573.8 (7) The lender will act as the fiscal agent for the loan, servicing the guar-anteed lo

43、an, maintaining loan docu-ments, and receiving the Borrowers payments of principal and interest. The Borrower and the lender may be re-quired to execute a fiscal agency agree-ment. (b) In addition, the agreement shall contain other requirements, terms, and conditions required or approved by HUD. 573

44、.8 Environmental procedures and standards. The environmental review require-ments at 24 CFR part 50 are applicable to this part. (a) Environmental procedures. Before any lenders submission requesting a loan guarantee for the acquisition, re-habilitation, or construction of real property can be selec

45、ted for a loan guarantee, HUD shall determine whether any environmental thresholds are exceeded in accordance with 24 CFR part 50, which implements the National Environmental Policy Act (NEPA) and the related Federal environmental laws and authorities listed under 24 CFR 50.4. To assist in complying

46、 with envi-ronmental requirements, Borrowers are encouraged to select sites that are free of environmental hazards and are to provide HUD with environmental data needed to make a determination of compliance. For successful Borrowers, the costs for preparing the environ-mental data are eligible as pr

47、oject costs. (1) If HUD determines that one or more of the thresholds are exceeded, HUD shall conduct a compliance review of the issue and, if appropriate, estab-lish mitigating measures that the ap-plicant shall carry out for the prop-erty. (2) The lenders submissions under 573.6 shall provide HUD

48、with: (i) Documentation for environmental threshold review; and (ii) Any previously issued environ-mental reviews prepared by local, State, or other Federal agencies for the proposed property. (3) In providing the above informa-tion, the Borrower is encouraged to contact the local community develop-

49、ment agency to obtain any previously issued environmental reviews for the proposed property as well as for other relevant information that can be used in the applicant documentation for the environmental threshold review. (4) HUD reserves the right to dis-qualify any request where one or more environmental thresholds are exceeded if HUD determines that the compliance review cannot be satisfactorily com-pleted. (5) If Guaranteed Loan Funds are