resale: Has the FHA flipping rule really been waived?
- 03/05/10 02:19 AM
Lenders accross the land are taking different twists on the FHA flipping rule waiver. Just to demonstrate how major lenders are treating this tender topic, I will list some examples from the largest national leaders. Some things are simple, others not. On January 15, 2010, HUD issued a Waiver of Requirements of 24 CFR 203.37a(b)(2) revising exceptions to the FHA Flipping Rule policies. (Notice that HUD did not actually issue a Mortgagee Letter.) The FHA Flipping Rule prohibits FHA financing if the contract of sale for the purchase of the subject property is executed within 90 days of the prior acquisition … (2 comments)
Lenders accross the land are taking different twists on the FHA flipping rule waiver. Just to demonstrate how major lenders are treating this tender topic, I will list some examples from the largest national leaders.
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