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FHA Extends Condo Rules for Reverse Mortgages, Other Loans

/ Owner - August 31, 2017

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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