FHA Condo Recertifcation Approval Requirements
1) Determine date project was initially given its FHA approval. This can be found at: https://entp.hud.gov/idapp/html/condlook.cfm
2) If project initially approved prior to January 1, 2000, then a full project approval is going to be required.
3) If project initially approved on or after January 1, 2000, then the project may be eligible for the recertification process.
4) Projects that are currently FHA approved may be recertified beginning six (6) months prior to the approval expiration date or within six (6) months after the approval expiration date.
5) Projects that are not recertified within six (6) months after the approval expiration date will require full project approval.
6) New FHA case numbers will not be assigned for those projects where the project approval has expired and the project has not been recertified or reapproved prior to the project expiration date. This means that an appraisal cannot be ordered.
7) Recertification packages may be submitted by the Lender (authorized lender staff), Builder/Developer, Homeowners Association, Management Company or an Attorney or Project Consultant who submits on behalf of one of the other referenced (named) parties. HUD does not allow packages to be submitted by Borrowers, Sellers and/or Real Estate Agents.
8) Recertification packages may be submitted to the jurisdictional Homeownership Center and processed under the HRAP option. DELRAP participating lenders, such as Prospect Mortgage, may review and process recertification packages. The DELRAP is the quicker of the two options.
9) All documentation and information required on the Condominium Recertification Cover Letter/Document and Checklist must be included in the request for recertification review. Lenders may elect to use their own form; however, it must contain all information required on the examples provided.
Once it has been recertified, the updated FHA condo project approval status will be valid for two years following the new approval date.
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