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Improving FHA’s Condo Forms and Policies

Improving FHA’s Condo Forms and Policies

NRMLA, in coordination with the HUD Issues Committee, sent a letter to the Department of Housing and Urban Development that recommended ways to improve FHA’s condominium approval forms and policies.

Go deeper: NRMLA suggested that HUD combine the forms HUD-9991 and HUD-9992 into one document.

NRMLA also proposed that the Single Unit Condo Approval requirements for HECMs mirror those for FHA’s forward mortgage program.

  • For example, HUD should remove the requirements that HECM borrowers cannot qualify for a Single Unit Condo Approval with the use of compensating factors or extenuating circumstances.
  • Read the full letter by logging into the NRMLA Comment Letters section of NRMLAonline.com.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.