FHA Issues Final Rule on Condo Approval Requirements

August 20, 2019

The Federal Housing Administration on Aug. 14 issued its long-awaited Final Rule on Revisions to Condominium Project Approval requirements. Prior to the rule changes, just 6.5 percent of the roughly 150,000 condominium developments in the United States were previously eligible for FHA-backed mortgages.were eligible for FHA-backed mortgages. ALTA's Board of Governors discussed the condo rule when it met with FHA Commissioner Brian Montgomery last month.

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