51 views 33 sec 0 Comment

Condos Continue to Cause Reverse Mortgage Headaches

/ Owner - September 24, 2018

The Federal Housing Administration approval process for condominiums continues to be a headache for loan originators who have prospective clients interested in Home Equity Conversion Mortgages.  Currently, an entire condominium community must be approved by the FHA for a resident to open a HECM. But many originators said they are met with resistance from condo boards when they approach about beginning the approval process.     Read the article………………

Comments are closed.