Effective August 29, 2011. FHA Modified Standards for insuring mortgage loans involving Condominium Units

Started by EllieD • 2 replies • 1836 views

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EllieD (Vermont)
Posts: 446

Posted:

Hello all,

It seems that Condominium Boards and Condo Managers have some new requirements to contend with.

I do not recall any recent discussion, so I am posting links to the HUD Site and to both the new FHA Mortgagee Letter 2011-22 and to the earlier November 2009 Letter:

http://portal.hud.gov/hudportal/documents/huddoc?id=11-22ml.pdf

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-46bml.pdf

The following August 2011 Newsletter alerted me to the new FHA Mortgagee Letter 2011-22 and provides some interesting commentary. (I have no connection what so ever with the authors or with their law firm).

http://www.reesbroome.com/community/August_2011.pdf

PetunkaM (Florida)
Posts: 1,009

Posted:

Ellie,

Thank you for posting it. I wonder if any of the new restrictions will also apply to HOAs.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Oops,

I posted this information again prior to reading the new posts and saw that Ellie posted it already.

Thanks for the info Ellie.

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