Nov
28
I often wonder grant that I should simply change the title of this blog to “FHA mortgage news” since it seems like an overwhelming portion of recent coverage has been directed towards the agency’s activities. Its newest initiative – and the subject of this post – is to alter its role in condominium mortgage lending.
In October, it was announced that FHA mortgages would be more difficult to come by the agency of for condo owners. Namely, lender spot approvals would be eliminated, a maximum on the number of units in a condo complex that could obtain FHA loans imposed, and requirements on owner possession and sales were to be implemented. The rule