Compliance Inspection Report - Hud Page 2
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2Public reporting burden for this collection of information is estimated to average 15 minutes 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. This agency
may not conduct or sponsor, and a person is not required to respond to, a collection information unless that collection displays a valid OMB control number.
See the statement below that corresponds to the designation checked on the front of the form under section "IV. To Mortgagee".
A. Noncompliance. Construction is not acceptable or all specific
B. Compliance. (with incomplete items)
conditions have not been fulfilled in accordance with the terms of the
Construction of on-site improvements has been acceptably com-
related commitment because of :
pleted except for any items listed on the front of this form. Completion
(a) Variations from Exhibits. Inspection reveals extensive non
of those items is delayed by conditions beyond the parties' control.
compliance, involving variations from accepted construction
The property will considered acceptable for mortgage insurance and
exhibits. The property will be considered ineligible for mort-
closing papers may be submitted provided:
gage insurance (1) unless the work has been corrected so as
(a) All required off-site improvements have been acceptably
to effect compliance, or (2) unless reprocessing is requested
completed and so reported, or their completion has been
on the basis of the mortgage security as it is now being
assured by an acceptable "Mortgagee's Assurance of
constructed, and this is found to be acceptable. Requests for
Completion" form, and;
reprocessing must be accompanied by a letter, in duplicate,
(b) All specific conditions not requiring field inspection as indi-
fully describing the work as now being constructed, signed by
cated on the front of this form have been acceptably fulfilled
the mortgagor and approved by the mortgagee. Where the
or evidence of compliance is submitted with the closing
plan arrangement, or either the exterior or interior appear-
papers, and;
ance is affected, the mortgagor's letter must be accompanied
(c) The closing papers are accompanied by form HUD-92300,
by drawings, in duplicate, fully indicating the variations and
"Mortgagee's Assurance of Completion," properly executed
signed by both the mortgagor and the mortgagee.
and providing for withholding the sum indicated, or by indicat-
(b) Unacceptable Construction. Construction reveals exten-
ing the sum is available on a commercial letter of credit, and
sive noncompliance with applicable FHA requirements or
for completion of construction not later than the date stated
good construction practice. The property will be considered
on the front of this form.
ineligible for mortgage insurance until construction has been
C. Final Acceptance
corrected so as to effect compliance.
Construction has been completed and all specific conditions have
(c) Premature Construction. Inspection reveals that construc-
been acceptably fulfilled. Closing papers may be submitted provided
tion was begun prior to the date of approval for mortgage
the mortgagee's credit analysis of the borrower is acceptably com-
insurance (in noncompliance with the commitment or state-
pleted. Evidence of compliance with specific conditions not requiring
ment of appraised value).
field inspection as indicated on the front of this form may be
submitted with the closing papers.
Previous editions are obsolete.
form HUD-92051 (7/87)
Retain this record for 30 years or the life of the file
Submit an Original and four copies
ref. Handbooks 4000, 4115.3, 4145, 4165, 4190, & 4240.4
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