FHA Extends Condo Rules for Reverse Mortgages, Other Loans

The Federal Housing Administration this week extended its current rules regarding condominium lending as it continues to work on permanent updates.  In a new mortgagee letter, the FHA implemented an open-ended extension of the existing condominium rules as laid out in previous letters released in 2012 and 2015 — essentially freezing the status quo until FHA updates the Single Family Housing Police Handbook 4000.1 with a final rule for condos.     Read the article………..


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