HUD-9651 PAGE 5 CONSENT TO ASSIGNMENT FNMA TRANSACTION V. EFFECT OF CONSENT TO ASSIGNMENT Neither the contract administrator nor HUD is a party to the loan or the loan documents, nor to any assignment of the HAP Contract by the owner to the lender, nor to any assignment of the HAP Contract or the loan to Fannie Mae. Issuance of the consent to HUD (04-13-2009) PAGE 5 CONSENT TO ASSIGNMENT AS SECURITY The consent to assignment of the HAP Contract as security for the loan does not change the terms of the HAP Contract in any way, and does not change the rights or obligations of HUD, the contract administrator or the owner under the HAP Contract. The owner has read the terms of HUD’s consent to assignment of the HAP Contract by the owner to the lender, and by the lender to Fannie Mae. In consideration for HUD’s grant of such consent to assignment, the owner agrees to all the terms of the consent to assignment, and agrees that any assignment by the owner is subject to all such terms. An Assignment or Assumption of Housing Assistance Payments (HAP) Contract is required when the property being sold is subject to a HAP contract, with or without mortgage insurance. The HAP rents are set by a variety of factors, so it's important to understand how the rents may change from year to year before purchasing a property. change in ownership and assignment of a Housing Assistance Payment (HAP) contract in non- insured properties. It sets forth the required documents to be submitted for HUD's review. Typically, HAP contracts contain language similar to the following: The Owner agrees that it has not made and will not make any sale, assignment, or
Project-based Section 8 Contract Administration. CONSENT TO ASSIGNMENT. OF HAP CONTRACT. AS SECURITY FOR FINANCING. OMB Control #2502- HUD consents to assignment of the HAP Contract by the owner to the lender as security for the loan, and consents that the lender may assign its security interest in
Jun 19, 2010 Fill in section type un der HUD regulations f or t he S ection 8 voucher 8 to Initial Housing Assistance Payment The HAP contract term commences If the owner req uests PHA consent to assign th e HAP meet State or local Dec 29, 2014 12.3 ASSIGNMENT OF BEDROOM SIZES (SUBSIDY STANDARDS) owner/ landlord lease, including the HUD prescribed tenancy addendum;. 11. Inspect adult household member has signed a consent form designed by RAP. The for housing that have not yet resulted in an executed HAP contract. Notwithstanding HUD’s grant of consent to assignment by the owner of a security interest in the HAP Contract to the lender as security for the loan, and to further transfer of such security interest to successor secured parties, HUD’s execution of this consent does not constitute consent to a full assignment of the HAP contract to any HUD consents to assignment of the HAP Contract by the owner to the lender as security for the loan, and consents that the lender may assign its security interest in the HAP Contract to Freddie Mac. The consent to assignment is not consent for any other or further assignment of the HAP Contract (including any interest in the HAP HUD-9651 PAGE 5 CONSENT TO ASSIGNMENT FNMA TRANSACTION V. EFFECT OF CONSENT TO ASSIGNMENT Neither the contract administrator nor HUD is a party to the loan or the loan documents, nor to any assignment of the HAP Contract by the owner to the lender, nor to any assignment of the HAP Contract or the loan to Fannie Mae. Issuance of the consent to HUD (04-13-2009) PAGE 5 CONSENT TO ASSIGNMENT AS SECURITY The consent to assignment of the HAP Contract as security for the loan does not change the terms of the HAP Contract in any way, and does not change the rights or obligations of HUD, the contract administrator or the owner under the HAP Contract. The owner has read the terms of HUD’s consent to assignment of the HAP Contract by the owner to the lender, and by the lender to Fannie Mae. In consideration for HUD’s grant of such consent to assignment, the owner agrees to all the terms of the consent to assignment, and agrees that any assignment by the owner is subject to all such terms.
At the beginning of the HAP contract term, the amount of the housing assistance payment by the PHA to the owner is $ __ _____ per month. The amount of the monthly housing assistance payment by the PHA to the owner is subject to change during the HAP contract term in accordance with HUD requirements. f. Previous editions are obsolete Page 2 of 12 The owner has read the terms of HUD’s consent to assignment of the HAP Contract by the owner to the lender, and by the lender to Fannie Mae. In consideration for HUD’s grant of such consent to assignment, the owner agrees to all the terms of the consent to assignment, and agrees that any assignment by the owner is subject to all such terms.
Project-based Section 8 Contract Administration. CONSENT TO ASSIGNMENT. OF HAP CONTRACT. AS SECURITY FOR FINANCING. OMB Control #2502-