When builders and developers engage in construction projects under the auspices of the U.S. Department of Housing and Urban Development (HUD), the HUD 92448 form becomes an essential document. Also known as the "Contractor's Requisition," it plays a crucial role in overseeing the distribution of insured mortgage proceeds associated with construction costs. This highly specialized form, requiring submission in quadruplicate to the mortgagee, facilitates the verification of program benefits through detailed itemization of completed work items. By ensuring that payments from mortgage proceeds correspond to work satisfactorily completed, the form adheres to the provisions of the National Housing Act, particularly Section 207(b), thus enabling the Secretary of HUD to insure mortgages effectively. The collection of this information, deemed not to contain sensitive data, sustains a public reporting burden estimated at around six hours per response, encompassing tasks from reviewing instructions to submitting the fully completed document. Importantly, this requisition includes a comprehensive breakdown by trades outlined in the attached Schedule of Values, alongside detailed sections on costs, inventories of materials (both on-site and off-site), and adjustments for approved changes, underpining its role in maintaining transparency and integrity in construction-related financial transactions under HUD programs.
| Question | Answer |
|---|---|
| Form Name | Form Hud 92448 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | false, 2013, OMB, ized |