Form Hud-3111 - Mortgagee'S Certification And Application For Interest Reduction Payments - U.s. Department Of Housing And Urban Development Page 2
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2Public reporting burden for this collection of information is estimated to average 1.0 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the collection of information.
The information is considered nonsensitive and does not require special protection. This agency may not
collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
Instructions
General:
6. & 7. Self-explanatory.
Submit original and one copy for each non-insured mortgage to be received no
later than the 20th of the month. Include amounts due for interest reduction
8.
To determine the amount of disbursed proceeds applicable to the subsidized room
payments and handling charges on the first day of the following month. Prompt
multiply the actual disbursements by the number of subsidized rooms in the project
submission of bills by the 20th of each month will permit HUD to process the billing
divided by the total number of rooms in the project.
and requisition a Treasury Check for delivery on or about the first day of the
9. through 12. Self-explanatory.
following month. Original signatures are required on Form HUD-3111. Facsimile
13.
Enter the amount shown in panel (7) for subsidized rooms.
signatures or xerox copies of this form are not acceptable for disbursement
purposes.
14.
Enter the amount shown in panel (8) for subsidized rooms.
1. & 2. Self-explanatory.
15.
Self-explanatory.
3.
The contract year shown in this panel establishes the 12-month period for
16.
Prior to amortization show note or bond interest rate as applicable. After amorti-
controlling the amount of interest reduction payments made annually. In establish-
zation begins show mortgage interest rate.
ing the contract year, consideration is given to the due date of the first interest
17.
Enter the rate of fees and charges and attach a schedule showing the method of
reduction payment on the contract. For example if the first interest reduction
calculation.
payment is due July 1, the contract year for the life of the contract is from July to
18.
Calculate interest reduction payment and enter the amount here. Attach a sched-
June of each year.
ule showing the interest reduction computation and indicate whether the payment
4.
Self-explanatory.
was comed on a monthly or an annual basis.
5.
Enter the annual contract amount specified in the approved Interest Reduction
19.
Enter the handling charge if the interest reduction payment is for the month of
Payment Contract. Deduce the cumulative total of interest reduction payments
December 1974, or prior thereto.
actually received during the current contract year established in panel (3). Do not
20.
Add amounts shown in panels (18) and (19) and enter total here.
include the amount of the current billing. The balance is the amount available for
the current and subsequent billings during the remainder of the 12-month period.
Monthly billings for interest reduction payments during any contract year may not
exceed the annual amount specified in the contract. If the total annual amount
specified in the contract is received prior to the end of the current contract year,
the monthly billings must be suspended until the beginning of the next contract
year.
form HUD-3111 (10/78)
Page 2 of 2
Replaces form FHA-3111 and previous editions which are obsolete
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