Form HUD-92541 is required by various rules promulgated by FHA, in connection with construction properties (see, for example FHA Single Family Handbook 4145.1 REV-2, CHG-1 ch. 3 & 6-3; Handbook 4150.2, CHG-1, ch. 4-3 & 5-1; and Handbook 4155.2 ch. 8.B). We provide a duplicate of this form as Cx3971.
The Department of Housing and Urban Development has released an updated version of the form (which can be viewed at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/forms/hud9).
We will, therefore, be updating Cx3971 to match the latest version. Most changes are minor in nature (e.g. un-bolding certain text, reformatting sections, etc.), but there are additions and removals of some text, most notably the removal of text in the Instructions which sets forth the criterion for obtaining maximum loan to value financing for a new property.
These changes will take effect on June 5, 2013. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
May 29, 2013