FHA Issues Revised Lending Guidelines for Condominiums
The Special Issue of the Insider (Dec 2009 SI) took a look at some of the specifics of the Federal Housing Administration's (FHA's) originally proposed mortgage insurance rules, their criticisms, and how some of the requirements may change in advance of the Dec. 7, 2009, effective date.
Since then, on Nov. 6, 2009, the FHA has issued two documents concerning FHA mortgage insurance requirements for condominium associations. These documents, though temporary, replace earlier proposals issued by the FHA.
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