ARCHIVED BLOG POSTS

2014 

FHA’s “6-Month Window” for Condo Recertification This week I received a call from a property manager who was concerned that the 6-month window for recertification with FHA was quickly approaching.  The condominium’s FHA approval expired on 3/21/14 and the manager and association were concerned th...
08/29/2014
Critical FHA Condo Approval Requirements to Sunset 8/31/14Unless FHA releases a new Mortgagee Letter in the next few days, the temporary guidelines for condominium approvals created in Mortgagee Letter 12-18 will expire on August 31, 2014.The highlights of the 12-page document include: Clarificat...
08/28/2014
FHA Eliminates So-Called "Pre-payment Penalties" for Loan Payoffs Yesterday, August 26, 2014, HUD modified its procedure for interest charges when an FHA loan is paid off.  As of January 21, 2015, lenders will only be allowed to collect interest from a borrower up until and including the date on ...
08/27/2014
FEMA’s New Site is Very Cool! Part of the submission package for FHA condominium project approval is to supply FHA with a FEMA flood map which outlines the property boundaries of the condominium.  Several months ago, I wrote about how FEMA had modified their site.  Well, they did so again recentl...
08/24/2014
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