Effective June 1, 2000, First Housing has become one of the first approved lenders in the nation under the new FHA multifamily accelerated processing program (MAP). As an approved MAP lender, First Housing will not only continue to submit Firm Commitment Applications, but also assume some of the underwriting responsibilities from FHA on the following mortgage insurance programs: 221(d)(4) New Construction/ Substantial Rehabilitation of Rental Apartments, 223(f) Acquisition/Refinancing of Rental Apartments, 232 New Construction/Substantial Rehabilitation of Health Care Facilities, and 232/223(f) Acquisition/Refinancing of Health Care Facilities.

The MAP program has improved upon the previous FastTrack processing program by training and designating lenders such as First Housing to complete and submit as part of the Firm Commitment Application all required underwriting documentation previously done in-house by FHA personnel. FHA will then simply review, not re-underwrite, the loan application, thereby cutting the processing time significantly.