24 CFR § 401.407 - Closing conducted by PAE.

---
identifier: "/us/cfr/t24/s401.407"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 401.407 - Closing conducted by PAE."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "401.407"
section_name: "Closing conducted by PAE."
chapter_name: "OFFICE OF HOUSING AND OFFICE OF MULTIFAMILY HOUSING ASSISTANCE RESTRUCTURING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "401"
part_name: "MULTIFAMILY HOUSING MORTGAGE AND HOUSING ASSISTANCE RESTRUCTURING PROGRAM (MARK-TO-MARKET)"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715z-1 and 1735f-19(b); 42 U.S.C. 1437(c)(8), 1437f(t), 1437f note, and 3535(d)."
regulatory_source: "65 FR 15485, Mar. 22, 2000, unless otherwise noted."
cfr_part: "401"
---


# 401.407 Closing conducted by PAE.

After the owner has executed the Restructuring Commitment, the PAE must arrange for a closing to execute all documents necessary for implementation of the Restructuring Plan. The PAE must use standard documents approved by HUD, with modifications only as necessary to comply with applicable State or local laws, or such other modifications as are approved in writing by HUD.