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All condominiums starting December 7, 2011 financed with FHA loans will need to be re-certified for FHA lending. The time frame for recertifications are approximately 4-6 weeks according to what HUD has stated.The following documentation is required for FHA Reviews on "Established" Condo Project: Fully completed and executed Condominium Project Certification. Lender's form.Condominium project Budget and Financial Statements (Profit & Loss and Balance Sheet) Management Contract, if agent managedHOA Master Insurance Policy (Hazard, Liability, Fidelity and Flood)FEMA Flood Map (HMG Condo Group will obtain)Condominium project Recorded Legal Documents: Declaration/Master Deed and By-Laws, Amendments, Plat Map and Site Plans, Articles of Incorporation … (0 comments)
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