On September 18, 2009, HUD published Mortgagee Letter 2009-33, which allows the Secretary to grant exceptions to maximum mortgage limits for certain multifamily housing programs by (1) up to 170 percent, equivalent to a 270 percent multiplier in geographical areas where cost levels so require or (2) 215 percent in high cost areas, equivalent to a 315 percent multiplier where necessary on a project-by-project basis. The attachment to the letter also highlights the cities that are designated as High Cost Areas.
