Changes to FHA financing approval requirements
The Federal Housing Administration (FHA) released a detailed update to existing condominium underwriting regulations on June 30, 2011 with new requirements effective for all approval application packets submitted on or after August 30, 2011. In 2010, FHA-insured mortgages accounted for more than one-third of all condominium purchases nationwide. Many other lenders are also informally adopting […]