New HUD Mortagage Letter Impact

On November 13, 2015, HUD released a new Mortgagee Letter (ML) in response to pressure from industry professionals and trade groups. The new ML has revised the current FHA Recertification process, redefined owner-occupants, and clarified insurance requirements.  For the purpose of this article I will go through the changes and how they will impact Condominium Associations.      Read the article………