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.
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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203k IN THE NEWS
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.
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
“How does a HUD Consultant market their services?”
I get asked from time to time by HUD Consultants as to how they can obtain more business. Although there are numerous ways to go about marketing your 203k Consulting services, I’ll explain what’s worked for me in the past.