As some of you may know, in April of last year, HUD released new forms of certain closing documents, including the AR Intercreditor Agreement.  Unfortunately, there were few AR lenders who would agree to enter into HUDs new form.  I personally know of only one lender who would sign the new form of the document and only did so on one deal and then not again.  After months of negotiations between FHA and certain AR lenders, a revised Intercreditor Agreement has been tentatively approved by the parties.  Before this new form of Intercreditor Agreement can be approved for use by the OMB, it must be published in the Federal Register, as required by the notice and comments rules of the federal government.  Although HUD has been working to get the necessary approvals to publish the new form Intercreditor in the Federal Register, this has not yet occurred. To prevent issues caused by the delays, HUD is currently allowing the use of the new Intercreditor prior to its publication in the federal register, but with no deviations from the form.  For those borrowers who put aside their AR loans while awaiting resolution of the Intercreditor issues, it is now safe to move forward, provided your lender will accept the newly revised form of Intercreditor without modification.