HUD Trainings for 203k Consultants

203k consultant software

FHA offers many events and training, including a series of updated pre-recorded training modules, covering multiple topics on FHA Single Family Housing policies, processes, and technology. FHA provides on-site trainings, self-paced pre-recorded trainings, and archived webinars and even has a YouTube channel. Many of these trainings are targeted to 203k Consultants and provide information on the 203k Rehabilitation Mortgage Insurance Program.

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FHA Waiver for Limited 203k Properties

limited 203k program

On January 24 2018, the Federal Housing Administration (FHA) issued a temporary waiver of its Limited 203k program policy regarding the time period in which borrowers may be prevented from occupying the property as a result of repairs in determining whether a repair is considered “major.” The temporary waiver applies to Limited 203(k) mortgages closed on or before June 30, 2018, secured by properties in the Commonwealth of Puerto Rico.

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– Holiday 203k Software Savings – 20% OFF for 1 year!

construction project management software

20% OFF Easy 203k Professional for 1 year!

50% OFF Easy Contractor Professional for 1 year!

Here at Easy 203k Professional we are always working to improve our system. Originally developed as the only online 203k Consultant software, Easy 203k Professional has now been customized as construction project management software for Contractors and Handymen as Easy Contractor Professional.

If you are using Easy 203k Professional and have enjoyed the experience then check out our new system for your handyman/home inspection projects and get 50% off your Easy Contractor Professional monthly subscription fee for 1 year  – or — refer your contractor partners to try Easy Contractor Professional and get 20% off your Easy 203k Professional monthly subscription fee for 1 year if they sign up for a paying plan within 1 month after end of promotion.

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FHA Waiver Allows 203k Inspections

hud 203k loan information

The Federal Housing Administration understands the needs of those affected by the recent hurricanes. On November 9th the Federal Housing Administration (FHA) issued a waiver covering all municipalities in Puerto Rico impacted by Hurricane Maria (Maria), allowing damage inspections to be conducted beginning November 9, 2017. This waiver is in addition to the waiver issued by FHA on October 24, 2017, of its policy on the time frame for completing the inspection of properties prior to closing, or submitting the mortgage for FHA insurance endorsement in the Presidentially-Declared Major Disaster Areas (PDMDAs) in municipalities in Puerto Rico impacted by Maria.

This includes all properties utilizing the 203k Rehabilitation Mortgage Insurance Program.

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HUD Extends Disaster Foreclosure Moratorium

203k consultant software

On October 20 2017 the Federal Housing Administration (FHA) published Mortgagee Letter 2017-15, Extension of Initial Disaster Foreclosure Moratorium for Properties in Specified Areas Impacted by Hurricanes Harvey, Irma, and Maria. This Mortgagee Letter (ML) communicates specific guidance for the extension of the foreclosure moratorium for FHA-insured properties in the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA)-designated Individual Assistance Areas that are located within the Presidentially-Declared Major Disaster Areas for Hurricanes Harvey, Irma, and Maria. The extension of these three initial moratoriums applies to the initiation of foreclosures and foreclosures already in process.

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203k Application Information

It has come to our attention that some lenders want to use their Lien
Release forms.

If you have worked with lenders requiring the use of their forms, please
send us copies of their forms and we will add them to our system.

Thank you,

Easy 203k Professional Support Team

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203k Consultants

HomeBuyers and Real Estate Professionals

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What does HUD say?

Over the past year and a half, I’ve had the luxury of speaking with several hundred FHA 203k Consultants. During my conversations, I’ve been surprised  to learn there are a whole lota consultants out in the consulting world that are generating their specification of repairs “Ass Backwards” according to
HUD standards.

Did I say “Ass Backwards”? Yes, and I certainly don’t mean their donkey is turned around looking the other way. What I mean is that when I’m speaking to consultants around the Country, they are informing me they are utilizing the contractors cost breakdown to generate their specification of repairs! This is a major HUD “NO NO”.

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FHA Appraisals and How They Can Affect Your Work Write Up

Like the 203k Consultant, the FHA Appraiser has the obligation and duty to call out any and all “Health and Safety” issues they discover during their investigation of the subject property. In the event you have already completed your Specification of Repairs (“SOR”), and the appraiser discovers any health and safety issues you failed to disclose on your SOR, you will be obligated to amend your SOR to include these items.

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