RECENT BLOG POSTS
  VA Loans Denied Because Condo Project Not On HUD’s List   I met today with a friend who is a Vice President for a national lender.  We were talking about reasons why condominium projects should get approved with HUD.  He threw me a curveball that I hadn’t previously heard. He said that within t...
07/10/2014
FHA Condo Approvals – Question About Case Number Expiration Here is a question that I have fielded many times regarding what happens when an FHA loan for a condominium is in process and the condo project’s approval with HUD is soon to expire. [For those who are unfamiliar, when an FHA loan is ini...
07/10/2014
  FHA Condo Approvals – A Leasing Restriction Exception   Under typical situations, there are circumstances whereby HUD will allow leasing restrictions in condominium projects.   Condominium projects can set minimum and maximum lease terms.  They can require that the leases include language that ...
07/10/2014
What Types of Condominiums Does FHA Accept? In response to notifying an inquiry that her condominium project is not approvable, she asked me “what types of condominium projects does FHA accept?” This question was really in reference to the types of condominiums and not to something specific such ...
07/10/2014
New Condominium Law in Florida   Joseph Adams of Becker and Poliakoff in Florida posted this detailed article of the new condominium laws that recently took effect. None of these should have any bearing on their ability to get approved with HUD/FHA.  The only one that overlaps a little is the ch...
07/10/2014
  What is the Difference Between HUD and PUD?   I receive many email inquiries that are generated from my ActiveRain articles.  I have been fortunate that there has been interest in some of my recent posts which has increased the number of email that I receive. …Which gives me topics for more art...
07/10/2014
My Condo’s FHA Approval Expired – Can I Still Close? Yesterday, FHA held a webinar on the Condominium Project Approval Process.  There were nearly 250 people on the call and judging by the questions asked many of the participants were from lenders. As a Project Consultant, I do not typically get ...
07/10/2014
Can You Help to Get a 2-Unit Condominium Approved with HUD? Driving through a torrential downpour today, I fielded a phone call asking me if I could help to get a 2-unit condominium approved with HUD. Don’t worry, I was using my Bluetooth. The call came from, Mike, a branch manager for a mortgage...
07/10/2014
What is the Difference Between Legal Phasing and Marketing Phasing? I received an inquiry from a mortgage broker in Arkansas asking what the difference is between legal phasing and marketing phasing as it pertain to Fannie Mae condominium project approvals. I thought this to be an appropriate blo...
07/10/2014
FHA Condo Approvals – Issues with Up-Front MIP   Technology is very cool and we don’t often realize how much work goes into large systems such as HUD’s or the Department of the Treasury.  Here is an example where HUD was experiencing an issue with the Department of the Treasury because of one sil...
07/10/2014
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ReadySetLoan Condo Approval Team

The FHA/VA Condo Project Approval Specialists
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