FHA Condo Approvals - My Company's Services - 07/28/11 12:38 PM
FHA Condo Approvals – My Company’s Services
Recently, I have had many requests regarding my services and pricing so I decided to write an article that discusses both questions as well as the steps for processing FHA condo approvals and recertifications.
My company functions as a consultant to facilitate the process of approving or recertifying a condominium project with HUD. HUD is the governing body that maintains the approved condominium list. FHA is insurance for home loans and the Administration is housed within HUD, no pun intended. When a condominium project is approved with HUD, FHA loans are then available within … (1 comments)

FHA Condo Approvals - Mortgagee Letter 11-22 FHA Concentration Limits - 07/27/11 12:35 PM
FHA Condo Approvals – Mortgagee Letter 11-22 FHA Concentration Limits
As mentioned in a previous article, the recent release of HUD’s Mortgagee Letter ML11-22 has been extremely beneficial even though it tightened up some of the previous guidance provided by HUD for condominium project approvals.
In 2009, HUD’s Mortgagee Letter 09-46A temporarily increased the FHA concentration limit in a project from 30% to 50% with exceptions to allow for up to 100% FHA concentration. This limit was to sunset on December 31, 2010. It was then extended temporarily until June 30, 2011 via Mortgagee Letter 11-03 on January 5, 2011.
This … (0 comments)

FHA Condo Approvals - Mortgagee Letter ML 2011-22 - 07/26/11 02:43 PM
FHA Condo Approvals – Mortgagee Letter ML 2011-22
 
Recently, HUD released Mortgagee Letter ML11-22 in which it further clarified and modified the guidelines by which it approves condominium projects. Although condominium projects now have to jump through more hoops in order to get approved with HUD, the clarification of the required documents should make the process easier to go through.
 
The majority of the changes apply primarily to Pending, Under-construction and recently-converted (less than two years old) Conversion projects, including further defining the difference between a gut-rehab Conversion and a non-gut Conversion.

One of the biggest modifications is … (3 comments)

 
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Eric Boucher - The FHA Condo Approval Guy

Manchester, CT

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Integrated Processing Solutions

Address: 110 Main Street, Manchester, CT, 06042

Cell Phone: (404) 433-4565

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