Real estate blog entries tagged with condo by Lakewood Lending Group, LLC (NMLS#132141)

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Home : Blogs : Jeremiah Wean (NMLS#132221) : Indiana USDA Home Loan Professional : Tag "condo"

condo: FHA Says We Don't Want Your Condo's - 01/28/10 10:23 AM

HUD has taken a lot of losses on large condominium projects and has been determined for a long time to get out of the approval process.
The latest guidelines are described in two separate HUD/FHA documents: (i) Mortgagee Letter 2009-46B (the revised guidelines for FHA approval of residential condominium projects); and (ii) Mortgagee Letter 2009-46A (temporary guidance for condominium approvals).
In short, Mortgagee Letter 2009-46B replaces Letter 2009-19. The temporary guidance (Letter 46B) acts as a buffer to ease transition from the old to the new regulations.
Lenders Builders Look for all Condo sells to be nearly impossible for the coming … (2 comments)

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Jeremiah Wean (NMLS#132221)

Indianapolis, IN

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