hud mortgagee letter ml 1211: FHA Condo Approval Specialist – Two New Mortgagee Letters - 06/26/12 08:55 PM
FHA Condo Approval Specialist – Two New Mortgagee Letters
 
HUD released two new Mortgagee Letters last week.
 
The first of these updates lenders regarding HUD’s policies regarding unpaid taxes and fees for foreclosed properties prior to conveyance to HUD.  You can read it in its entirety but here is the gist of the sections:
 
·        Mortgagees (lenders) must pay all taxes prior to conveyance to HUD.  It also spells out the requirements to maintain copies of the receipts and invoices for all taxes paid prior to conveyance.  If the lender does not pay the taxes on time, HUD … (6 comments)