From Les Sparks:

Here is the only guidance I can find on this matter for 232s. I might add this requirement is substantially less than for a normal multifamily project. Sorry, it took me a while to get this.

Les

I. Special Requests.
1. Request to suspend or reduce monthly deposits into the R4R Account. Generally a request to suspend or reduce monthly deposits will be considered only when the project is in good financial, physical and regulatory standing. The R4R Account balance must be equal to at least sixty (60) months of deposits. Monthly deposits cannot be suspended for more than 12 months at a time. The following items are required to be submitted to ORCF in connection with a request to suspend or reduce monthly deposits into the R4R Account:
a. Completed Funds Authorization;
b. Completed Borrower Certification and Request Detail.

If the request for suspension or reduction in the monthly R4R deposit is being requested because a project cannot currently fund the deposit, the Mortgagee/Servicer and AE will conduct a meeting to discuss the financial situation, cash flow problems and any other concerns leading to this request from the project.

2. Borrowing funds to cover mortgage payments or operating deficits. In extreme cases,
ORCF may consider a Borrower’s request for a short term loan of funds from the R4R Account. The purpose should be related to a condition or circumstance beyond the normal control of the Borrower. A request for a loan from the R4R Account may trigger an enhanced analysis of the project. The following items are required to be submitted to ORCF in connection with a request for a short term loan of funds from the R4R Account:
a. Narrative explaining the proposed loan terms, expenses to be paid and the reason for the request (including an explanation of any outstanding ORCF and state compliance issues);
b. Completed Funds Authorization;
c. Completed Borrower Certification and Request Detail;
d. The three (3) most recent monthly financial statements for the project.

All Special Requests are to be submitted via the Mortgagee/Servicer, who must first review them for completeness, accuracy and eligibility, and then forward them to ORCF with a recommendation for approval.