Attachment_5_-_Exhibit_D-232_223f_Closer_Punch_List.pdf

Exhibit D – 232/223f Closer Punch List

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Closer Name: Date Received Complete Draft Closing Package (Secure Link/Thumb drive/CD):________ HUD UW: HUD WLM: Lndr Company:

Project Name: HUD Attorney: Lndr UW:

FHA #: AE: Lndr Attorney:

Date Assigned: NCRE: NO YES $___ Closed Date:

HUD Rvw Appraiser: HUD HEROS Reviewer: orcftools.com

Transaccess User Link

SECTION 223 CLOSER PUNCH LIST

STEP ACTIVITY KEY POINTS NOTES

AFTER FIRM COMMITMENT Key Points, References & Links

Closer Assignment

Within 2 business days of assignment, go into project SP folder to find Contacts & signed FC

The 223 Firm Commitment states, “Draft closing documents must be submitted not less than ten (10) business days prior to Endorsement” (stated at end of Firm )

Assignment process-Closers go into ORCF Closer Inbox & self-assign 3/2017

Yellow =

New/Change

DAP - Dap Entry required Close Stmnt - Associated data for Closing Statement iREMS - Data to include in iREMS Email * link on ORCF Internal Site

Introductions

Within 2 business days of receiving assgnmnt Email* Lndr Attrny (cc assigned HUD Attrny, UW &

Lndr) inform you’re the assigned ORCF, request 1-set electronic draft clsing docs be sent to you

Intro Email Template * Includes link Lndr Optional Insurance Cert. to allow Lndrs to certify insurance is current, adequate & accurate Certification replaces ACORDs

Signed Firm sent by Lndr to Closer Email In-Box & Mike Moe posts fully executed in Project SP Closing folder Effective 2/2016 Email Blast

ORCF Closer Abbreviations Link to ORCF Acronymns (in SP)

~~Check either SharePoint or Portal to ensure Title/Survey Review was completed~~ iREMS

HUD Attorney Coordination

Check for Waivers & Review LC Memo

Conduct “Hello Call or Email to HUD Attrny* be familiar w/ transaction & ready to discuss program type & potential issues Have LC Memo & survey report readily accessible

Provide copy or link of Title Survey Rvw to HUD Attrny

Provide copy or link of Loan Committee Memo to HUD Attrny

Provide copy or link of approved waivers

Request HUD Attrny to copy you on their review of the draft closing docs

Waivers – HUD UW (or Contracted UW) should advise of granted/pending waivers.

ORCF Closer email to Lndr Attrny may ask if waivers are necessary. The LC Memo, Lndr Narr, Special Conditions & SP should identify approved waivers Closer waiver policy CloserIntroEmailToHudAttrnyPORTFOLIO*

A waiver of Statutory or Regulatory nature or precedent setting litigation involving Housing must be reviewed & approved by Deputy Secretary 4-14-15*

Hello Call or Email to HUD Attorney – Closers are expected to make an effort to contact HUD Attrny to introduce yourself, discuss anticipated issues, work schedules, survey/title issues & potential closing dates If desired, schedule a conf call w/ all parties to discuss Do not wait for this call before moving forward

*Contact Diane with questions on PRAC/ Section 8 MF/ORCF_Section_8_MOU*

Attention Contract Closers: Copy ORCF Closing GTM on all emails regarding questions & issues of substantive nature raised by HUD Office of General Counsel, (OGC) during the closing process

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N/A Is Section 8 involved? If yes, reach out to MF AE to coordinate HAP renewal* OGC_LEGAL_REVIEW_Generator* ListOf232HUD_AttorneysByRegion*

Receive Or Bounce Receive complete draft closing documents, electronic or paper, from Lndr Attrny

Yes–ENTER date in SP when a Complete package is received

No, Bounce-Email*

Update SP, put BACK in closing queue

223(a)(7) Chcklst & 223(f)Chcklst If package is incomplete or substantially incorrect send Bounce-Email* toLndr Attrny notifying project is being returned to closing queue, Copy HUD Closing Attorney!! Update SP Project Screen SP -- Project screen*, Select “Edit Item;” under “Closing” tab, update

(a) “Closing Huddle Status” field with

(i) date you bounced;

(ii) why bounced; “Incomplete package-missing #’s per CompletenessChecklist*,

(iii) your initials;

(b) Change “Closer Name” to NONE

Firm Commitment:

Check SP closing folder for fully endorsed Firm, Post Firm in SP Closing Folder

Check &ensureall signatures/exhibits are included

Yes

No, add to deficiency email-sample*

At Firm issuance,PS sends electronically signed Firm to Lndr for Lndr & borr’s signatures ORCF accepts digital signatures frm Lndr & Borrower-12/21/17 EmailBlast

Firm coversheet instructs Lndr to return fully endorsed Firm to ORCF Closer

Fully executed Firm is then uploaded to SP Closing Folder

223(f) Firm 223(a)(7) Firm Required Attachments listed on last page of Firm document

*~* Double check to ensure all Exhibits are included with executed Firm*~*

Issuance of an amendment or closing can not occur until ALL Parties sign Firm

DAP

Firm Commitment Extensions:

N/A

Verify & process extensions as needed

Merge approved pdf amndmt w/ Lndr Amndmt Rqst. Optional- creates fewer docs (Nuance program)

Email scannedcopy of Amendment to all parties, including HUD Attrny

Update **DAP & SP ** don't forget!!

Post Amndmt Extention in SP Important-ALL Extensions are “Amendments” in DAP ANY change to a FC, regardless the type must be processed as an Amendment

Do not use the extension status in DAP

Policy&RiskMgmt * DelegationOfAuthority 1.23.17*

DAP – how to input an Amendment*

~ Extension requests must include this statement from ORCF Guide, 9.3 “The requested delay is not likely to change significantly the underwriting data on which the commitment was based or to undermine the feasibility of the project due to a change in the market, inflation, or other factors affecting cost.”

223(f) FC may be extended for 1- 60-day period 223(a)(7)FC, ORCF underwriting is current at extension & may be extended for 1-90 day period.

If longer extensions are requested, WLM approval must be obtained Lndr’s FC amend/extend request for 60/90 days must include reason for delay & justify how delay can be solved during extension.

~ The 1st 60 day extension doesn’t require UW to concur, Closer may sign ~ The 2nd extension rqst must have ORCF UW concur & signed by a WLM

DAP Status Options

DAP

Amendment Requests Amendment Template*

Verify/process Amendments P&I payments calculator*

Merge approved amndmt w/ revised pdf of Exhibits & Lndr Amndmt Rqst (Nuance program)

P&I payments calculator * Amendment Template * MIP Rates FeesByLoanType*

Amendment Requests For current rates FeesByLoanType_MIP_Insp* Step 1

Must come on Lender letterhead w/ updated relevant attachments, i.e.

92264-A & repair exhibits

An Amendment MUST be issued if any #’s change in FC

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Cont iREMS

Email scanned copy of executed Amendment to all parties, including HUD Attrny

Update DAP to report amendment

Upload Amendment to SP

Note in iREMS if larger initial R4R deposit exaggerate

Mortgage Increase Request

N/A

Forward rqst to assigned ORCF UW to review & approve RvsdMortIncreaseProcolcol-Rev*

Update SharePoint (Project screen, UW tab) enter new mortgage amount

Calculate new applic fee

Confirm it matches amended 92264A Application Fee = Loan Amount X .3%

Add application fee increase to Firm Amndmt Use Special condition

Update DAP to reflect increased mortgage

Work with Lender to ensure increased application payment is made prior to closing

*Contact Mike Moe if have DAP issues or questions

Important: Carry forward all previous amendments to create one comprehensive amendment. The last, or Final Amendment should be attached to HUD Attrny’s Instructional Closing Email

***Don’t forget to update DAP*** Mortgage Increase - Borrower must pay full application fee PRIOR to Closing

Application Fee = Loan Amount X .3%

Amendments are signed by WLM of the ORCF Project UW When emailing WLM to sign, subject line should state in CAPS:

“PLEASE SIGN AMENDMENT& 2264A, [PROJECT NAME] [PROJECT#] [223(a)(7)or(f)])”

***Keep in mind, (not all amendments require an updated 92264a)****

Step 2 Once signed the ORCF Closer must:

Input all information in DAP w/in 24 hours of approval.

Step 3

Use Nuance add pdf of Lndr Amendment Rqst to approved Amendment Step 4

Upload Amendment to SP Step 5 Email executed Amendment to all closing parties

Mortgage Increase Request - Edit SP if Mortgage increases or decreases

1. Under SP Project Screen*, click “Edit Item” (this links to sample Project Screen)

2. Select “Initial/UW” tab.

3. Change mortgage amount in first field titled “Mortgage Amount. “

4. Click “Save & Close”

5. Include special condition in Amendment to charge addt’l application fee

SPECIAL CONDITION LANGUAGE:

HUD Application Fee Adjustment: Due to the increase in the mortgage amount, the HUD paid application fee of $_______is insufficient. The required application fee based on the new loan amount is $_____. An amount for the difference ($_____) must be paid through pay.gov with a copy of the receipt forwarded Mike Lawassani and the ORCF Closer.

The receipt must be confirmed as received by from Mike Lawassani at least 1 day prior to closing If payment isn't received by 1-day prior to closing, HUD will reschedule closing.

Fewer Amndmts the better`Lndr should wait until rate lock & submit all Firm changes at once.

The most recent Amendment is the current Amndmnt & is to incorporate all exhibits amended after Firm issuance to create a comprehensive amendment

If Form HUD-92264a changes w/ an amendment, Lndr must submit updated & signed 92264a as amendment exhibit

Signing WLM signs 92264a Closer creates 1-pdf all-inclusive amndmnt to include Lndr’s Amnd Rqst & any amended Exhibits since Firm Issuance. If creating a “Final” Amndmnt, retain the last Amndmnt number, i.e. Amnd_4_Final_XYZproject

If R4R or Residual Receipts withdrawals are used as funding source, generate an Amndmnt, if not already in Firm

NOTE : Max approved R4R deposit increase is $40,000- higher increase will NOT be approved & goes back to Loan Comm or WLM to approve 2-2015EMAIL BLAST *

Facility License:

Verify name on license (Operatr, Ownr, MgmtAgnt)

License holder name on license must agree w/ underwriting Beds stated in LC memo stated as “licensed” must agree w/ current License

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Verify expiration is not w/in 30 days of closing

Verify # of beds/units match or exceed the RegAgrmt & equal to or more than Firm

No, add to deficiency* email

Facility license must meet or exceed # of beds/units listed in Reg Agrmnt

Renewal evidence must be provided if license expires w/in 30 days of closing

LC Memo & eventually Lender Narrative should identify Licensed & non Licensed beds & units

ALF Residents must be 62 or older (see 1/16/18 Parking Lot Notes) iREMS

Escrow Agreement for Non-Critical, Deferred Repairs: 92476-ORCF 92117-ORCF

N/A

Verify Project Name, Lndr/Borrower address, & FHA # are correct FC

Verify Escrow amount correct & matches FC/

Amendments

Verify Firm Exb B is attached& correct repairs are identified

Review photos, invoices & executed Borrower Cert 92117-ORCF for completed non-critical borrower proposed repairs if prior-to-closing If Lender requests Escrow Administration

Verify If Lndr is approved for NCRE admin Firm has special condition Apprvd Delegation* identifies if Lndr is apprvd.Addt’l details see 8/2016 & 6/2017Email Blasts No inspection fees

Note any errors in deficiency* email

See InspectionFeeEmailHistory

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HUD-92476-ORCF_EscrowAgreementForNon-criticalDeferredRepairs

All non-critical & Borrower proposed repairs listed in FC Exhibit B & not completed must be included in the Escrow Agreement.

If some or all non-critical/borrower proposed repairs are completed, the Borrower must provide executed form HUD-92117-ORCF. HUD-92117- ORCF Borrower's Certification for Full or Partial Completion of Non-Critical Repairs

Invoices & photos must be provided as evidence of completed repairs for all critical & non-critical repairs, when required by Firm Ref:HB 4232.1 Rev-1, Sect II 9.2. D.2. Clarification-evidence of both photos & invoices are required, even if repair expenses are not part of the loan cost or justification.

Lndr must provide FC amndmt rqst & executed HUD-92117-ORCF& revised

Exb B stating complete/ incomplete repairs to reduce required repair escrow.

Conflict of HUD requirement of 10%retainage (4232.1, Chap 10) vs state requirement (e.g. Oregon (5%)) OGC HQ agrees state law presides 7/28/14

Revisions to repair list (delete or change catergory) requires UW approval. A waiver may be required to chg Critical to Non-Critical must verify w/ WLM

Note Effective 7/20/15, ORCF Closers administer Non-Critical Escrow post-Closing, per Email Blast 6/29/15 Escrow amount is needed for iREMS If some or all non-critical repairs are completed prior to closing, make note of this on iREMS email. 10/10/14

Apprvd Delegation If Lndr apprvd as NCRE Admin, ORCF will not charge insp fees Firm includes Special Condition allowing delegation Ref HB 4232.1, Sect II, Chap 2, Para 2.9.K.3 a.-c.: 8/2016 & 6/28/2017 Email Blast* & Inspection & Fee Email History* No special condition? Fix with Firm Amendment � {Delegated Lndrs do NOT pay Inspection fee & Inspection fee expense is not included on S&U, RFE, or MILC however, Lender may charge Borrower a fee for Escrow Administration} HUD Insp Fee line item is to report “$0”

Critical Repairs: 91118-ORCF

N/A

Review list of repairs in Firm Exhibit B (critical & non-critical/borrower proposed)

Verify critical repairs are complete prior to closing. Rvw photos, invoices & executed Borrower’s Cert., HUD-91118-ORCF

Upload signed/dated Borrower Certification to SharePoint

HUD-91118-ORCF_Borrower'sCertificationCompletionOfCriticalRepairs

Critical repairs must be completed prior to closing. Refer to PCNA for details. PCNA is in the 01_UW project folder

If photos, invoices & signed & dated certification are not included in Lndr package, ask for them, they are required!

Invoices & photos must be provided as evidence of completed repairs for all critical & non-critical repairs, when required by Firm HB 4232.1 Sect II

9.2. C. Clarification-evidence of both photos & invoices are required, even if repair expenses are not part of the loan cost or justification.

If Lndr is delegated NCREadministration, Closer must verify if approved

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If Lndr requests Escrow Administration

Verify If Lndr is approved for NCRE admin Firm has special condition Apprvd Delegation* identifies if Lndr is apprvd. See addt’l details 8/2016 & 6/2017 Email Blasts* No inspection fees

Note any errors in deficiency* email

Apprvd Delegation* If Lndr apprvd as NCRE Admin, ORCF does not charge insp fees – See InspectionFeeEmailHistory*

If Lndr is an approved repair administrator, Inspection fees should not be included in transaction costs on, RFE, S&U, or MILC HUD Insp Fee line item must report “$0” See step #29 of this punch for how to calculate inspection fees

Survey: 91111-ORCF

Verify Title Survey (T/S) reviewed & report saved in SP & Action Items resolved

EmailedEmail T/S Review klst to HUD Attrny, {step 3}

Check Action Items of T/S rvw to determine if outstanding requirements OR Firm special conditions exist & are related to T/S

No, email ORCF UW to verify status & coordinate resolution

HUD-91111-ORCF_Survey Instructions and Borrower’s Certification

Prior to FC, ORCF UW sends a copy of completed Title & Survey(T/S) Rvw to Lndr If issues, Lndr is advised so they may start work immediately ORCF UW has special condition(s) w/ specific rqrmnts to be addressed prior to Firm or closing If action item is pre-firm, it is handled by UW & OGC If they cannot resolve, ORCF-UW changes it to a special condition for closers to address.

The Title/Survey Review should be in SP 00_HUD_UW folder It’s allowable for a Borrower Survey Cert to be submitted if existing survey is over 120 days old & no material changes occurred subsequent to the survey

DOES NOT

APPLY TO

(A)(7)s

Close Stmnt iREMS

Request for Endorsement (RFE):92455-ORCF

Confirm all information matches source:

Project Name FC

FHA # FC

Project Address (FC) should be full address

Date of Firm FC

Lender Name FC

Borrower FC

MIP FC

Inspection Fee if applies (not for a7 or Lndr Admin)

Exhibit B-Repairs (repairs agree) w/ FC

Flood Insurance Premium Receipt if appl FC

Prepayment Premium

Lender fees-Sec. D & Exhibit B FC /Cls Stmt)

Next PCNA due date (same as stated in Firm)

Escrow amounts Debt service NCRE…(FC)

Note errors in deficiency email

HUD-92455-ORCF_RqstForEndrsmntOfCredi Instrmnt&CertOfLndrBrrwr&GenContractor

Any changes to ORCF Firm OMB Forms must be approved through the Document Change Protocol*

~Final RFE info/amounts must be consistent w/ last firm amndmnt & final S&U

~Inspection Fee HB 4232.1, Chap 2, InspectionFeeEmailHistory* & 5/31/12 Email Blast*

MIP RATES – MIP rates haven’t changed in years.

For current fee rates FeesByLoanType_MIP_Insp*

~Pre-payment penalties are negotiated prior to closing an existing loan; there-fore, penalties charged on existing loan were already negotiated; however, ~~ 232 loans are restricted to a 10% prepayment penalty ~~

Reasonable prepayment – See HB 4232.1, Chap 3, Section II

ORCF Closer Abbreviations @ bottom of Punch

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Security Instrmnt/Mortg/Deed of Trust

HUD-94000-ORCF

Verify Security Instrument is correct FC

Project Name

Project Number

Jurisdiction/State

Verify Parties Names & Addresses

Maturity Date

Loan Amount

Approved Use Reg Agrmnt

Master Tenant

Name in Control of Deposit only w/ Mstr Tenant

Individuals/entities in Exculpation para.pg.17 Match FC & Reg Agrmt Para.8.

Borrower, Principal(s) & Lndr Names

Legal Description, attached exhibit

Note errors in deficiency email

HUD-94000-ORCF_Security Instrument/Mortgage/Deed of Trust form

HUD Attrny will advise on changes to selected “Alternative” if used & on the name of Trustee, if one is required by relevant jurisdiction.

Section 6 Exculpation – ORCF FAQ allows language in Security Instrument to “reference” Para 38 & not specifically list Borrower individual(s). This is helpful when necessary to change entities due to TPA. See Q&A*

Transaccess User Guide

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Regulatory Agreement(s) Borrower // Master Tenant // Operator

HUD-92466A-ORCF-Operator RegAgrmnt

Verify Reg Agreements are correct

Br MT Op

Project Name FC

Project Number FC

Project Location FC

Lender FC

Mortgage Amount FC/Amendments

Section of the Act FC

“Profit-Motivated”or“NonProfit”checked?FC

Date of Firm Commitment

Approved Use, # beds/units, FacltyLcns

Old/New FHA #’s R4R Bal/transf. 223a7only

Sect. 13 Monthly R4R amounts FC

Initial deposit FC-if applicable

Sect 13, year for next PCNA

Sect 38 include Borrower individual(s) exactly as Firm, ORCF-UW decision, not Legal

Correct Principal(s) sign FC

Proper HUD signer/Notary block (according to who your assigned signer is)

Other provisions inserted (Sect 14) if required by FC & must run withfull loan term

Note errors in deficiency email

Master Tenant – Must be checked HUD-92337-ORCF MstrTenant RegAgrmnt

Borrower Agreement-specific to:

HUD-92466-ORCF Borrower Reg Agreement

For (a)(7)s, Borrower Reg Agrmnt HUD-92466-ORCF, includes reserve transfer $ amount from existing project. Check old & new FHA #s - ensure accuracy.

Often (f)s require a minimum deposit & must be identified in FC.

Note “Approved Use” section should reflect # of beds or units in facility license

Check this against #’s on LC Memo. If # on LC Memo is smaller than number on Facility License, the Facility License number should be used & include “not less than” language from OMB document stating LCM#.

Note: ALL SNFs must have Operator sign a Reg. Agrmnt If exact same entity is both Borrower & Operator, a Reg Agrmnt must be executed for both (for each)

4-30-13 Email Blast* addresses Non-Profit Borrowers distribution permission.

HUD-92466-ORCF Healthcare Regulatory Agreement–Borrower HUD-92466A-ORCF, Healthcare Regulatory Agreement–Operator HUD-92337-ORCF Healthcare Regulatory Agreement-MasterTenant

Document (Form) Change - If firm special condition directs to add language to Reg Agrmnt Form, Document Change Protocol* must be followed Changes with-out this form should NOT be processed HUD Attrny must complete this form, send to Jason Roth who processes & issues results. A copy of each apprvd chg is saved HERE* NOTE-Use of an addendum or rider to satisfy a condition is “supposed” to be acceptable w/out doc-change-approval. However, Section 14 of Borrowers RegAgrmnt is RESERVED to insert language identifying restrictions which must carry for full loan term & not require a document change

Operator fiscal reporting rqrmnts, Para 20c. are found in 10/30/14 EmailBlast*

& 10-6-14 EmailBlast* Quarterly reporting is due within 60 days of quarter end Final Quarter reporting is due no later than 90 days

Exception-Some Attrnys may not be familiar w/ 60/90 day update. OK to change an older Operator Reg Agrmnt to include this change IF BOTH–Operator & Mgmt Agent -Each entity must sign a Reg Agreemnt

Borrower Entity/Section 38 - Entity/Entities identified in Section 38 of Reg Agrmnt MUST be exactly the same as identified in FC. If different, an Amendment may be necessary. ORCF UW should identify this entity.

9-26-13 Email Blast* It is program’s responsibility, not legal’s.

If Borrower entity, a LLC is listed, name natural person must also be stated

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Title

Yes, If issues, are they resolved?

No, Resolve issues prior to closing

223(f) check SP HUD UW file for title/survey rvw. UW should include specific reqrmnts in special condition(s). UW sends copy of Title Rvw to Lndr prior to Firm issuance A7’s may not require.

If Title includes racial based covenantsLndr must show they’ve made all efforts, early in applic processing, to remove from title 10-30-15 Email Blast*

MAY NOT

APPLY TO

(A)(7)s

Mortgage Note: HUD-94001-ORCF

Verify info correct & matches source docs:

Project Name FC

FHA # FC

Mortgage Amount FC

Start & maturity dates FC Amndmnt

Interest rate (FC or Amndmnt)

Principal & interest paymnt FC/amndmt

New & old FHA #s (iREMS) (only a7s)

All Endorsement panel blanks correct

Principals signing same as FC & RegAgrmnt

Note errors in deficiency email*

HUD-94001-ORCF Healthcare Facility Note

Note - First Principal is the 1st day of the 2nd month following closing.

Closer Mortgage Calculator Tool ***This tool is highly recommended to verify the term of loan against FC & P&I payments*** Select program type & fill in the blanks.

MIP RATES For current rates FeesByLoanType_MIP_Insp*

Signing Instructions – sign on 2nd line for initial closing Have Lndr Attrny cover top line & advise Program Specialist not to date.

Waivers It’s a good idea to ask Lndr Attny in the “Closer’s deficiency email” if waivers were submitted in underwriting. This question is also asked in the Closer introductory email.

Note Panel - should have title & printed name of HUD signatory under signature line. 4-30-15 Email Blast If Lndrs include, we’ll accept

Insurance:

Verify insurance for PLI, property & fidelity bond are current & amount adequate

Yes, move on to next step

No, add to deficiency email

Verify Project Address is correct on all policies

Yes, move on to next step

No, add to deficiency email

Verify Property Insur. meets required amount per Firm & is Per Occurrence

Yes, move on to next step

No, add to deficiency email

Insurance should be based on Per-Occurrence General Liability Insurance, (GLI), ORCF now has Blanket Waiver OHP-1336* allowing Claims-Made

Verify insurance for PLI, property & fidelity bond covers the correct principal(s)

Yes, move on to next step

No, add to deficiency email

~OR~

HUD-92435-ORCF

Lender’s Certification of Insurance Coverage 2/2016 Email Blast, Lndr may opt to use Insurance Certifiation in place of Insurance ACORDs

If insurance expires w/in 30 days of closing, Lndr must provide proof of renewal

Fidelity Bond coverage is usually identifies minimum & coverage in FC. This type insurance may be in “blanket form” See HB 4232.1, Chapter 14

~~~ HB guidelines remove Forms HUD-92329 & 92447~~~ Firm includes required property insurance in Condition 7, (Section 7) 8/15

Principals covered -

HUD-92435-ORCF This Lender certification may replace Acords to meet insurance verification requirements

OHP Blanket Waiver #1336 Allows General Liability coverage with Claims Made in place of Per- Occurance, eff.5/15/18 How this waiver is communicated from UW to Closers is still not resolved LC Memo “should” document this Blanket Waiver Approval

Note-Lender may use signed & dated Lender Certification, HUD Form 92435- ORCF to replace ACORD copies

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Completed Insurance Certif HUD-92435-ORCF

Sources and Uses (aka Closing Statement):

Review draft Sources and Uses (Sources & Uses pg of MaxInsurable Loan Calc form HUD-92264a-ORCF) Sources & Uses form is REQUIRED, if don’t receive, require it!!

Check for:

Allowable Expenses

Interest Rate Premium

Mortgage Proceeds, Cash to Borrower?

Inspection Fees when there shouldn’t be?

Confirm loan amount is supported, add only documented eligible mortgagable costs

MIP RATES – MIP rates haven’t changed in years.

For current rates FeesByLoanType_MIP_Insp*

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Per 2-27-14 Email Blast*, S&U from 92264a-ORCF (Rev 2014) is submitted as loan closing stmnt & required for 223(f) & 223(a)(7)closings A required closing exhibit on the 223(a)(7) Chcklst & 223(f)Chcklst 4232.1 9.2F & 9.3F Change made for LEAN Closing consistency Do not accept another version.

*S&U due no later than 1-daybefore submission/mailing Note & Reg Agrmnts for HUD signature Fully-exected Stmnt due no less than 2 biz days before closing

*Hsg Notice 93-89-Mortg proceeds can be used for Allowable Expenses i.e.:

o Unpaid principal balance of existing insured mortgage plus, o Loan closing chrgs including: applic fee, MIP, financing fee, prepayment penalties*associated w/ mortg note, title & recording, legal fees, required deposits to R4R;

o Outstanding debt incurred w/ capital improvements-o All costs associated w/ testing, abatement or removal of LBP.

o Capital improvement costs, upgrading, repairs or additions.

*Pre-payment penalties are negotiated prior to closing loan; therefore penalties to pay off a Non-insured loan is allowed but 232 Loans are restricted to a 10% prepayment penalty Reasonable prepayment penalties on mortgage loan & program penalties arising from defeasance (or yield maint) of conventionally financed loans Amount not to exceed 10%of proposed mort. HB 4232.1, para 3.13 B.5.

Swap Fees: Reference is now in 4232.1 HB, Section II, Chap 3 & 17

Regulatory - Section 232 program does not allow borrowers to receive cash from mortgage proceeds or interest rate premiums!!!

Interest rate premium funds applied to Lean deals on Borrower behalf may only go toward prepayment penalties or project’s R4R.

Compare interest: rate premium to pre-payment penalty. If amounts are same or prepayment penalty is more than interest rate premium, there is no issue If pre-payment penalty is less than interest rate premium, the balance of interest rate premium must go into R4R

Mortgage Proceeds: check amount of cash due from/ to borrower on closing stmnt If closing stmt shows cash due from borrower, borrower is not receiving mortgage proceeds If closing stmnt shows cash due to borrower, identify source of funds Valid sources are good faith deposits pd to Lndr, prepaid expenses, later reimbursed from mortgage or tax or insurance escrows on current mortgage & required for new mortgage If source of funding to borrower is not available, Ask Lndr for explanation.

Cost Certification: CostCert 2205a-ORCF

Review & process draft Cost Certification, 2205A w/ supporting documentation.

Check 2205A w/ Payoff Ltr. They must agree

Borrower's Certificate Of Actual Cost 2205a_ORCF

Three Rules to remember when reviewing HUD-2205A-ORCF

1. Supporting & Appropriate Documentation (“approp docs”) must be provided in form of photos, invoices, receipts & cancelled checks. Rvw these docs to determine if adequate to support expenses claimed.

Does Not Apply to

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Check Payoff Ltr current & dated same mo.

as closing?

Check debts being paid must match FC?

Check completed repairs The costs stated must be the actual cost, not estimated (a7)’s have a 10% holdback (f)’s have an addt’l 20% escrow holdback

Check Financing/Placement fees (#4 & calc exhibits) cannot exceed lesser amount stated in 92264 S&U, as amended, or 3.5% of mortgage for a (f), 5.5% for Bond Financing, or 2% for an (a7)

MatchTitle/recordingexpnses(item 5) to 92264a, as amended & supported by “appropriate docs” (see definition above)

Match Borrower’s legal, org, & other expenses (items 6 & 7) against 92264 as amended, & supported by “approp docs”

Match “Other Expenses” itemized (item 7) against 92264a, S&U as amended & approp docs

Check Lndr’s total, upper section (items 1-7).

Complete lower portion, pg. 1 of draft 2205A to determine MIM.

List disallowed items on pg. 1; w/ explanation why disallowed MIM must match Firm Lndr must resolve

THEN

Issue an Amendment to FC if necessary

Ensure Reg Agrmnts & RFE are updated

N/A – No Amendment ~OR~

Increase R4R Initial Deposit

Ensure Reg Agrmnts & RFE are updated

N/A – No increase to initial R4R deposit

Receive corrected & signed 2205 (Once issues are resolved, Lndr submits signed original HUD-2205A)

Review & sign as ORCF Closer 2205 (pg 1)

Distribute executed 2205 to Lndr, Lndr Attrny & HUD Attrny (a copy is now also sent with HUD attorney closing instructional email)

2. In general, if any cost (other than set %) exceed FC approved amount, they “may” be allowed. However, if addtl costs cause increase in approved mortgage, the owner can take responsibility, pay “out of pocket,” or a FC amendment must be requested, approved & processed.

3. If more than one source of an expense, each must be reviewed.

All 223fs must submit a cost cert, even if LTV is less than 80%, or has bond or tax credits. This rule ensures NO CASH is taken out!! HB 4232.1, 9.6.2 (1 exception 223 (a)(7)) &11.5.A) ~MF Loans allow some cash out~

Existing indebtedness must be equal or less than FC (Amount may be less, as mo paymnts continue btwn FC & Closing.) If amount is greater than FC, it must be justified, explained & determined acceptable by ORCF

Financing/Placement fees-Details of approved fees is on S&U part of 92264

A 2% late fee is ok, it appears to be the industry standard

Final Mortgage Amount must be rounded to the nearest 100 Odd dollar amounts are not acceptable) If amount to round is $50, round down to nearest 100.

(this is a reminder, not new requirement)

If MIM doesn’t match FC Lndr UW may recommend deposit to R4R in lieu of mortgage reduction. An increase up to $40,000 is permitted. Over a $40,000 increase is not permitted unless Loan Committee or WLM meeting approves 2-25-15 Email Blast*

An increase to Reserves w/ accompanying Amendment, is required when amending Reg Agrmnt & RFE to reflect changes.

Once all closing issues & discrepancies are resolved, Lndr submits corrected/ revised & signed 2205 for HUD execution

ORCF Closer signs 2205 to identify approval. S&U is attached to Cost Cert but S&U does not need to be initialed.

Signing Delegation see Delegation of Authority, 1-23-2017*

MIP RATES – MIP rates haven’t changed in years.

For current rates FeesByLoanType_MIP_Insp

**Last minute R4R deposit (under $40,000) Obtain cert from Lndr/Borrower Addt’l deposit would appear on 2205A closing stmnt & 2264a to meet regulatory obligations for no cash out Addt’l R4R deposit may not show on RegAgrmnt Attach cert to closing docs for Transaccess & provide explaination Note to AE in iREMS post-close summary

ORCF Closer Abbreviations @ bottom of Punch

A(7)s

Does Not Apply to

A(7)s

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Post executed 2205 in SP Closing folder.

No,add to deficiency email iREMS

Cont.

iREMS

Special Conditions:

Verify all Special Conditions are satisfied

Yes

No, add to deficiency email

Special Conditions surviving after closing:

N/A

Yes, Enter in iREMS Post Closing Email

OGC Procedures to Change ORCF Forms*

Special Conditions Menu* (excel file) ORCF UWs use to standardize Firm conditions

Special Condition Matrix** Lndr “should” complete SC Matrix & share w/ORCF Closer to track SC’s Since Matrix is only a tool, doesn’t need to be saved in SP

As a rule, ORCF Closers need not issue FC Amndmnts to close resolved special conditions, An email stating special condition is satisfied is adequate

If a Special Condition must survive closing, it may need to be added to a “recorded doc", i.e., wetland conditions within the document if the form allows this type of addition, or as a Rider.

If added to Reg Agrmnt, the condition stays for the term of the loan.

OMB Form modification Document Change Protocol* must be followed See #14

Contact Jason if having issues w/ HUD Attrnys not following protocol.

Surviving Conditions should be noted in iREMS post-closing email, i.e., Escrow Agrmnts & Risk Mgmt. Agrmnts Closers post docs in SP Closing Folder Include comment in closing email for AE to save these docs

Borrower & Operator Certification:

Confirm executed Borrower/Operator Certification is collected at closing.

Yes, move on to next step.

No, add to deficiency email

Borrower/Operator Certification is listed as an item to include in the Attorney instructional email.

This Certification confirms no material changes occurred since Firm issuance.

Certification must include all language in Firm, para 20 for a7 & para 23 for f’s

Account Executive (AE)Conference Call:

Confirm/Email AE (Section #20 of FC) a call was Held or is scheduled w/ Borrwr &/or Mgmt Agent

Yes, move on to next step

No, add to deficiency email

Applies to f’s only.

The ORCF AE is identified in Paragraph 20 of FC.

Email AE to confirm conference call between ORCF & Borrower is scheduled.

Ask AE to email you upon completion. Per FC, this conference need only be scheduled, not completed prior to closing to meet requirement

DOES NOT

APPLY TO

(A)(7)s

A/R financing or secondary financing:

Confirm if A/R financing or 2ndary financing agree w/ underwriting,(LC Memo) or check w/ UW.

Work w/ HUD Attrny & UW to resolve issues.

N/A

Yes, move on to next step

No, add to deficiency email

If A/R or secondary financing is present, (i.e. Surplus Cash Note, Promissory Note, Tax Credits) consult parties involved as needed. i.e., if HUD Attrny has issues needing ORCF’s input, work w/ HUD Attrny & UW to find answers & resolve issues. 2ndary financing is rare & includes grants or loans from federal, state or local government agencies or non-governmental sources.

If Surplus Cash Note use Form_HUD_92223_ORCF

Confirm 2ndary financing agrmnt amounts agree w/ underwriting

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AFTER REVIEW OF DRAFT CLOSING DOCUMENTS

Deficiency Email:

If no corrections are needed, send an email stating that determination

Email* a list of corrections to Lndr Attrny (cc

HUD Attrny& Lndr) Follow-up to ensure deficiencies are addressed promptly

Deficiency Email Template *

This email should include a requirement for a response within 5 days, ORCF Closer Abbreviations @ bottom of Punch

Closer’s List of Assigned Authorized Agents*

Rating ~Reminder~ ~Reminder~ Reminder~ ~Reminder~ ~Reminder~ # 35-of Punch requires Closer to rate Lndr Closing Package Take notes during your review

Rating Lender Closing package WILL affect Change!! Email Generator to Rate Lender

Instructions for Document Execution & Lender Closing Coordination:

Coordinate closing date & type of closing, by mail or office w/ HUD Attrny, Lndr & LndrAttrny

Coordinate signing date & HUD Authorized Agent w/ HUD Attrny, Lndr & Lndr Attrny for HUD document execution

Confirm HUD signer & Notary availability

Email* Lndr, & all involved, signing instructions

Send Outlook Invite to HUD Authrized Agent &/or Notary/Coord Closer’sAssignedAgent*

Review scanned documents Lender Attorney emails prior to document execution

Documents sent for signature include:

HUD Execution of RAs & Note permitted ONLY if all the following have occurred:

(OR if both Closer & HUD Attrny confident & agree these items will be completed in time) this is qualifier is new-2018

Closer & HUD Attrny received complete draft closing package Note - HUD reserves right to withhold permission for document execution if draft closing docs have serious omissions or defects

Lender represents to ORCF that:

o There are no known impediments to close o Interest rate is locked o Loan amount is finalized o HUD Attrny & ORCF Closer reviewed & approved RAs & Note

*Outlook invite is not required, it’s a courtesy for Notary &/or Authorized Agent

Lndr Attrny scans/emails final doc copies for Closer rvw before HUD signs Closer confirms docs are ready for HUD execution, meanwhile, Lndr Attrny sends finalized closing docs to pre-determined & designated

HUD recipient. Docs are accompanied w/ pre-paid & pre-addressed overnight-mail envelopes to appropriate parties (see email template*)

HUD Executes {Closer has option to request a scan of signed docs from Authorized

Agent- These copies will provide a final copy before closing}

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Borrower Regulatory Agreement Mortgage Note Operator RegulatoryAgreement Master Lease (if applicable)

Note Assignment (if applicable)

The executed Note MUST go to HUD Attorney!

Permission to send docs for signature is NOT permission to record or close

The Note MUST go to HUD Attorney!

Closing is contingent upon full program & legal approval *****Signing early is incentive to finalize details & avoid rushing to sign docs***** Reg Agrmnts are not recorded until HUD Attrny authorizes Title Co. to record;

HUD Attrny authorizes recording only with full program approval

IMPORTANT – Lender must be advised; a minimum of 3-days should be anticipated for signed documents to be sent back to appropriate parties

Doc signing /closing Instructions Email Template*–shared w/ all parties involved HUD continues to sign last, only after docs are fully executed by other parties

Cont.

Sources & Uses: S&U from MILC, aka 92264a

Request Final S&U & invoices from Lndr

Review for changes from draft Loan Closing /Settlement Statement previously reviewed in #17

Ensure all payoff ltrs/invoices support closing statement figures (S&U is part of 92264a)

Confirm S&U is dated& signed by Borr & Lndr a7 ONLY Compare R4R current transfer amount Against balance initially reported under Lndr

Narrative Exec Summary If balance decreased $20,000 or 20% from Lndr Narr balance, ask Lndr to re-calculate R4R deposits to determine if previously apprvd deposits remain adequate

Confirm applic. Fee when Mortgage changes after Firm (Appl Fee=Loan Amount X .3% ) If incorrect, Amend FC. Amount owed MUST be paid prior to closing

Closer attaches S&U to Cost Certification & uploads to SP in Closing folder

Return to Top

S&U MILC ( (92264a) replaces Lender’s Loan Closing/Settlement Stmnt Lndr required escrows must be added under non-eligible costs Lender &

Borrower signatures are required Email Blast* 2-27-14

Fully executed S&U is due no less than 2 business days before closing Email Blast* If Lndr must recalculate R4R requirements, Lndr must provide a letter certifying R4R deposits were recalculated after original FC application Based upon review; Lndr notifies ORCF Closer of increases to R4R initial deposit or monthly deposit UW must approve this R4R change

If borrower increases R4R initial deposit, Lndr Attrny must update Regulatory Agreement & Request for Endorsement

A $40,000 incr to initial R4R deposit is max apprvd higher increase won’t be apprved & must go back through LC or WLM for review 2-2015 EMAIL BLAST (See #6 above for addt’l instructions)

If monthly deposit must increase, Borr Reg. Agrmnt must be revised If estimated transfer amnt decreased from recent withdrawals, Lndr Attrny must update amount to transfer in Request for Endorsement (a7 only) If Lndr is approved NCRE Administrator, NO Inspection Fee are Paid BUT, a special condition must be in Firm to allow see HB. Thus, no fee is included in transaction costs on S&U or Req for Endorsement Lndr PCNA fee can be included as eligible cost. (4232.1, Sect III/Asset Mgmt, Chap 3)

Interest Rate Premiums: Compare interest rate premium to prepayment penalty If amounts are same or prepay penalty is more than interest rate premium, no issue exists If prepayment penalty is less than interest rate premium, balance of interest rate premium must go into R4R account

INVOICES

ONLY APPLY

TO (A)(7)s

For (f)’s see Cost Cert

RESERVE

CALCULATION

ONLY

APPLIES TO

(A)(7)s

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Legal Issues Satisfied:

Confirm w/ HUD Attrny all legal issues are satisfied At a minimum, prior to Lndr sending docs for signature. Confirm w/ HUD Attrny the Note & Reg Agrmnt(s) are ok to sign

Closing shall not take place until both program & legal requirements are met.

Closer represents “program” & provides clearance on behalf of program, while HUD Attrny represents legal & will provide OGC clearance

ORCF Closer Abbreviations @ bottom of Punch

28 BEFORE Loan Closes:

~ ~ ~ Double & Triple Check ~ ~ ~

Ensure all Amendments are entered in DAP & SP (under the closing folder)

Ensure mortgage amount & P& I are correct in DAP, SP & all recorded docs (Note,RegAgrmnts

DAP & SP must be 100% correct. Please do your best to catch errors & correct prior to closing. Numbers change as closings approach.

Please try your best to keep all our systems up-to-date.

DAP & SP feed into other systems (iREMS) for reports used for reporting w/in HUD & Congress. It’s important all data is correct & we’re taking initiative to ensure all changes made between FC & Closing are carried through.

HUD Attorney Closing Instructions:

Email HUD Attrny, to notify you’re ready to close. Include in email:

MIP amount to collect **

Inspection Fees (if applicable)

Additional Application Fees, (if applies)

Escrows & amounts to be established

Identify # of Amendments issued

Attach last Amndmnt to email You may title it “Final” if the Amndmt number is retained

Request HUD Attrny collect Borr/Op Cert.

Request HUD Attrnycollect Critical Repair Cert

Request HUD Attrny to notify you when the loan is closed & to send NOTE w/in 24 hours

HUD Attrny Closing Instruction Email Template * FeesByLoanType*

MIP & Inspection fee: Federal Register Notice determines MIP RATES

MIP = Loan Amount X .5% for (a)(7)s & 1% for (f)s ~ Only (f)s have inspection fees if Lender is not approved NCRE Administrator Inspection Fees are charged 1 of 2 ways & calculated as follows:

1. If total cost of critical, non-critical & borrower proposed repairs is equal to or less than $3,000 per unit or bed (whichever is higher), HUD Inspection Fee is $30 per unit or bed (whichever is higher) Includes projects w/ no repairs

2. If total cost of critical, non-critical & borrower-proposed repairs is greater than $3,000 per unit or bed (whichever is higher) HUD Inspection Fee is 1% of total cost of critical, non-critical & borrower proposed repairs

3. 223(f) HUD insp fee is not paid if Lndr is approved NCRE Administrator

~If mortgage increased, Additional Application Fees for difference may be due~

** hud.gov MIP & Inspection Receipt is paid PRIOR to Closing date, receipt date should preceed closing date Closer can request receipts from Lender & include in HUD Attorney closing instructions

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Last Minute Issues Prior to Closing:

Litigation Searches

Be on standby for HUD Attrny to help w/ last minute issues i.e., newly discovered litigation Help coordinate & resolve issues using Newly Discovered Litigation Procedures

ORCF consults OGC on legal issues/questions regarding newly discovered litigation or Lndr disclosed UCCs Closer works to clear w/ UW &

WLM

N/A Return to Top

ORCF Staffing spreadsheet *or Excel Spreadsheet

Newly Discovered Litigation: Searches to run & analyzed by Lndr, no earlier than 30 days & no later than 5 business days before closing. HUD does not collect UCC searches, 2/27/14 EmailBlast* Lndr must disclose newly discovered litigation or UCCs that will not be released in connection w/ closing If there is newly discovered litigation, Lndr addressing all 4 of following w/ narratives:

1. Name & discussion of each newly discovered lawsuit & estimated potential liability;

2. Is each newly discovered lawsuit by type covered by insurance or is a lawsuit for a claim not covered by insurance or w/in insurance limit* and,.

3. Amount of liability insurance available to cover each newly discovered lawsuit & other pending claims, judgments & estimated potential liability for such other lawsuits /judgments; and

4. Identify who bears cost of defense of each newly discovered lawsuit & if insurance company is participating in defense.

*Two Options to estimate “value” of PI/WD case; 1)Ask Insurance Co.what they set aside in “indemnity reserve” And/Or 2)Ask Insurance Co. to provide “loss run” a report Insurance Co can provide at Firm-App Stage & maybe again w/in 30 days of closing This is a list of all insurance claims related to the project

Day of Closing/Notification

Be available to HUD Attrny for questions, Ask HUD Attrny to advise when project closes Call before COB if you don’t hear from HUD Attrny

Ensure DAP & SP are updated w/ Amndmnts & revised Mortgage Amount

Email* Closing WLM, Prod Dir, appraiser & environ mental rvwrs, assigned AE*, Note Surviving Conditions in iREMS post-closing email

Email Notification of Closing* should be sent the same day of closing to Closing WLM, Production Director (Patrick Berry), assigned Appraiser & Environ Reviewers should know about closing (Find Appraiser/Environ rewers on LC Memo)

Mike Moe starts 290.

Recommend discussing complicated agrmnts effecting Asset Mgmt in a separate email to AE along w/ a copy of iREMS input info. This additional step will save you & AE from researching later

AE Assignments* Find AE if Lndr changes w/223a7 refi

Sample Surviving Conditions: Mrketing Plans, Escrow Agrmnts, Risk Mgmt.Agrmnt

AFTER CLOSING

iREMS

Finish w/in 5 Business Days

Change SP UW-Tab status to “Closed”

Enter closing date

Update SP Closing-Tab, Enter closing date

Type “Closed” in closing priority section

Update, NCRE fields (if applicable), under SP Closing-Tab (**see screen shot, middle column)

Ensure executed copies of Reg Agrmnts & Note are saved in SP Closing Folder

] Savecopy of NCRE separately to ensure you

HUD Closers changes status in SP to “closed” & input date.

~ AE’s should try to retrieve closing docs in SP Closing Folder before archived ~ Ensure AE receives copy of Master Lease ~ Save copies of special agreements in SP Closing folder for AE’s future use.

After 7/20/15 ClosingsORCFClosers are responsible to monitor/process NCRE

~ Lndr submits rqst to NCR Request Drop Box;

~ Request it is forwarded to assigned Closer for processing per NCRE Punch*

~ Processing explanations found here All Programs/Closings/NCRE*

**SP Closer Tab Screen shot

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Closing Email to Lender

Email* Lender & Lender Attrny Thank You Email instructing them to mail closing docs to

HUD Attrny & CD to HUD HQ Archives aka

Transacess

Attach/provide link for Attrny Chcklst to email

Post-Closing Email to Lndr * ~Lndr Attrny is to send full package of closing docs to HUD Attrny ~Lndr Attrny is directed to mail a CD loaded w/ closing docs to OHP Records ~Archiving for transaccess. At the time Lndr Attrny mails cd, they are to email ~ORCF Closer & cc transaccess@hud.gov Archive Contractor will NOT ACCEPT ~Thumbdrives, remind your Lender to mail only CD’s, ~ORCF Closers no longer have a CD driver in their new laptops ~When Lndr cc’s Transaccess Email, Tiffani Tyer or Rachel E. Miller know to wait for Transaccess Contractor to upload docs & update SP project screen

~~ 2 weeks post-closing, Follow Up w/ Lndr if CD email not received ~~ iREMS

IREMS

iREMS data Email Link

Complete iREMS data email input & email (email address is auto-loaded)

Save iREMS email (copy) as documentation in SP & reference

2/18/15 - Closers email iREMS info to iREMS data Email Link ~ Note Surviving Conditions & special agreements in iREMS post-closing email for iREMS input i.e. Marketing Plans, Escrow Agrmnts & Risk Mgmt. Agrmnts

Closers are not to complete Lease info in iREMS Email unless FC includes a Special Condition calling out a new term

~~Dora Davenport is the iREMS coordinator~~

Rating Lender Closings

ORCF collecting data on Lender closings Click here to generate email

ORCF is collecting a rating for each Lender closing package and overall closing processing. Spencer Ash is the Lender liason & can assist with questions for this required reporting.

290 Preparation & Filing

Archiving Files Receive signed electronic 290 from

Mike Moe.

Note-If Mike Moe’s can’t pull pay.gov receipt, he advises Closer so Closer may resolve

1. Mike Moe rcvs Note from closing, prepares 290, authorized agent signs

2. Mike rcvs signed 290, e-mails copy to HUD Attrny and/or paralegal, Rachel

E. Miller, Mike Luke, assigned ORCF Closer

3. Mike prepares 290 packet (which includes hud.gov payment receipts he pulls from pay.gov, a copy of the Note, & the DAP produced 290), sends to MFIO & Trans-access Contractor Mike uploads to SP closing file & emails to Tracy. Tracy uploads 290 packet to Transaccess & cc’s Closer DAP Info

Post Documents in SharePoint

Receive & post to SP Project Closing Folder Rcv Post

290 Closing Memo & NOTE ( Mike Moe)

Firm-Fully Executed

Amendments w/ attchmnts & Rqst Ltrs

Critical Repair Cert-Borrower Executed

Closing statement (aka S&U from MILC)

Cost Certification (223(f) only)

AE Document Copies:

~ If an AE requests a copy of a document before it’s in Transaccess, the Closer can request a copy from Lender’s Closing Attorney. Best not have AE make this request since the Closer is responsible for this portion of processing. Documents most helpful to AE ususally include: Regulatory Agreement, Certifications, Escrows, Maintenance Agreements, Risk Mgmt Agreements

~COPY OF CLOSER PUNCH is uploaded in SharePoint. This change releases Closers from archiving hard copies. Don’t forget!!!

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Misc docs/emails to document/summarize Closing process