In the article below, Gabrielle does and outstanding job of explaining the difference between a condominium's HOA Master Insurance Policy and the unit owner insurance policy.  There is a distinct difference that every unit owner should understand.Please go to Gabrille's original post to leave a c...
Last week, I attended a two-day session about FHA condominium project approvals with HUD in DC.  Incomplete submissions and the Appendix A Project Certification were among the most important topics discussed.First off, HUD will only review packages submitted by the following entities: Lender, Bui...
Does HUD Allow Private Transfer Fees?  Yes and NoOver the past two days, Eric attended a session about FHA condominium project approvals at HUD Headquarters in Washington DC.  There were many topics discussed during the session, some of which are highly classified.  Well, not really because they ...
The VA is Definitely Tougher on Condo Leasing RestrictionsIn the past month, three of our condominium submissions have been approved by FHA and rejected by the VA - all for leasing restriction language.  Through at least the end of the year, when hired for FHA Condominium Project Approval, we are...
Our Condominium Has 50% FHA Concentration - Now What?Our first response would be to make sure that you don’t lose your FHA Condominium Project Approval!  Obviously, FHA buyers are attracted to your community so it would be beneficial to the association to maintain this approval.Really, though, th...
In case anyone missed John's super article about FHA's loan volume, delinquency rate and monthly mortgage insurance.  The article is too good to not pass along. Good Job HUD (Told ya So!)          Back in 2014, I was pretty hard on HUD in regard to the FHA loan program.  Annual PMI premiums at th...

ReadySetLoan Condo Approval Team

The FHA/VA Condo Project Approval Specialists
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