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1 CategoryRatingInsured (Including Insured assisted)Non-Insured Troubled Rating Explanation/ Comments must be no older than 3 months 1 a.High likelihood.

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Presentation on theme: "1 CategoryRatingInsured (Including Insured assisted)Non-Insured Troubled Rating Explanation/ Comments must be no older than 3 months 1 a.High likelihood."— Presentation transcript:

1 1 CategoryRatingInsured (Including Insured assisted)Non-Insured Troubled Rating Explanation/ Comments must be no older than 3 months 1 a.High likelihood of Full Claim within 6 months Any one of the following: a.HAP or other subsidy contract has been or expected to be abated b.A foreclosure recommendation has or is being prepared for Property Disposition Center c.Property Disposition center is analyzing strategy or processing disposition of HUD Held loan/property (Foreclosure, Note Sale, Sale or workout.). 2 a.Request for Partial Payment of Claim or OAHP restructure has been receiveda.Not used. Intentionally left blank. 3 Any one of the following: a.TPA required to resolve identified issues, physical and/or financial and no TPA transaction has been started b.Current only through owner contributions – non-tax credit c.High probability of Full Claim or request for a Partial Claim in 6 months – 1 year d.PASS/REAC below 30 Must remain a 3 until new inspection or refinance e.Owner or property is in Bankruptcy or Receivership Any one of the following: a.TPA required to resolve identified issues, physical and/or financial and no TPA transaction has been started b.202 or HUD held current only through owner contributions c.PASS below 30. Must remain a 3 until new inspection d.Owner or property is in Bankruptcy or Receivership 4 Any one of the following: a.Delinquent 3 or more times in the last year b.SOI Category/Stage is Execute - Require or Execute - Enforce (Uncooperative owner) c.Current only through owner contributions – tax credit d.SOI - Qualitative Assessment Score (QAS) >2.00 Any one of the following: a.Loan Delinquent 3 or more times in the last year (If applicable) b.SOI Category/Stage is Execute - Require or Execute - Enforce (Uncooperative owner) c.SOI - Qualitative Assessment Score (QAS) > Any one of the following: a.Economic vacancy greater than projected or expenses higher than expected. b.Audited financial statement shows DSC below 1.0 and owner is NOT taking corrective action via Action Plan, refinance, modification or moving to sustaining occupancy (if new construction) to increase DSCR; Not applicable if PM analysis shows DSCR calculation in FASS is wrong c.PASS between 30 and 59 and owner has NOT certified issues identified in the last inspection have been corrected d.Open Referral to DEC e.MROC Red and SOI Category/Stage is Investigate or Execute Recommend. Ex. Monthly Accounting Reports have not been requested, received, or reviewed f.If new construction indicator Y and Monthly Accounting Reports are not requested or received g.Viable TPA is in process to resolve problems Any one of the following: a.For non-insured, unexplained or excessive vacancy in HAP units b.FASS Rating of Red unless Review of Monthly Accounting Reports documents successful reversal c.PASS between 30 and 59 and owner has NOT certified issues identified in the last inspection have been corrected d.Open Referral to DEC e.IRA High and SOI Category/Stage is Investigate or Execute Recommend. Ex: Monthly Accounting Reports have not been requested, received, or reviewed f.A property where the owner has indicated a desire to Opt out and is in the last 12 months of their contract. g.No MOR in the past 3.5 years (PRACS) 5 years non-PRAC h.Standalone Use Agreement verified to not be in compliance or vacant land/building and Use Agreement has not been reviewed by PD for possible actions. i.Viable TPA is in process to resolve problems Occasionally exceptions to the Rating “any one bullet rule”, Monthly Accounting Report (MAR) or Management and Occupancy Review (MOR) requirements are appropriate and should be noted in the Rating Explanation/Comment field why the Guide was not followed. Comments should also indicate if the “Action Component” from the Risk Mitigation Road Map is not being followed.

2 2 CategoryRatingInsured (Including Insured assisted)Non-Insured Potentially Troubled Rating Explanation/C omments must be no older than 6 months 6 Any one of the following: a.PASS score 30-70, but ownership resolving problems (certified if under 60) and addressing why situation was allowed to occur (Includes PASS/REAC under 30 refinanced) b.SOI - Qualitative Assessment Score (QAS) such that 1.5


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