With the overhaul of FHA’s condominium guides, many MLOs and processors find it a bit daunting to find the time to sit down and actually read through the guide that FHA published so to help make a it a little easier for you, we produced our own guide titled: “FHA…
Mortgagee Letter 2011-22 dated 6/30/2011 clarifies, expands, consolidates, and updates existing condominium approval guidance while also replacing Mortgagee Letters 2009-46b, 2009-46a and 2011-03. Included with the new Mortgagee Letter are an attached Condominium Approval Implementation Schedule and 95 page Condominium Project Approval & Processing Guide. The revisions listed in this…
It is said that on December 7th more than 10,000 FHA condominium project approvals are expiring. The unfortunate part of that statement is that so many of us have been so focused on dealing with the higher than average volume of refinances in the past six months that we haven’t…