TITLE 24 - HOUSING AND URBAN DEVELOPMENT

SUBTITLE B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENT

CHAPTER II - OFFICE OF ASSISTANT SECRETARY FOR HOUSING - FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

SUBCHAPTER B - MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES

PART 266 - HOUSING FINANCE AGENCY RISK - SHARING PROGRAM FOR INSURED AFFORDABLE MULTIFAMILY PROJECT LOANS

subpart f - PROJECT MANAGEMENT AND SERVICING

266.510 - HFA responsibilities.

  (a) Inspections. The HFA must perform inspections in accordance with the physical inspection procedures in 24 CFR part 5, subpart G.

  (b) Annual audits of projects. The HFA must analyze projects' annual audits and provide a copy to HUD along with a summary of unresolved findings and actions planned, with target dates, to correct unresolved findings.

  (c) HFA's annual financial statement. The HFA must provide HUD with annual audited financial statement in accordance with the requirements of 24 CFR part 85.26.

[59 FR 62524, Dec. 5, 1994, as amended at 63 FR 46578, Sept. 1, 1998; 65 FR 16296, Mar. 27, 2000]