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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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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Best 203k Consultant Application

Today, we love being connected to the Internet. Whether we’re at work or play, being connected with friends and family is practically a necessity. In addition, many of us want to manage our finances and our home lives online as much as possible. For this reason and many more, we are offering the opportunity to manage 203K HUD loans online – from any device you own. How can this help? Let’s take a look at some of the reasons why managing these loans online can benefit everyone involved in the transaction…
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Easy 203K Professional: The Ideal Software for HUD Consultants and Real Estate Agents

FHA 203k loans are those offered by FHA (Federal Housing Administration), a government agency. The aim of these loans is to encourage financial institutions to finance seemingly risky mortgages. This loan was also created in order to revitalize neighborhoods and increase home ownership opportunities.

Increased Profitability

The best part about this software is that you do not have to struggle to manage your 203k project because there is an online program to help you do that. Apart from assisting you to manage your projects, the software can increase your productivity and profitability. This is not your typical software that is available for download and installation. It is a service that is available through the internet. As long as you have a good internet connection, you can use a connected device to access the service from anywhere in the world.
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Managing Residential Rehab with 203k Consultant software

HUD consultants who manage residential rehab projects need to stay on top of every detail 24/7. Every project manager knows that even the best developed rehabilitation plans face potential snags.
Tearing out a basement wall to remediate mold or water damage often reveals unexpected — and unbudgeted — wiring and plumbing issues. Replacing inefficient windows could lead to more extensive build-out to accommodate modifications necessary for varied sizes, shapes or architectural integrity.
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Why 203K Professional Software is a Must-have for Real Estate Agents

It is the wish of every realtor and estate agent to make their operations efficient. This is the very reason that the 203K Professional was developed. This is software that helps in the cost analysis of FHA 203K loan. One notable aspect of this great software is its simplicity despite very advanced features. This software is available online by signing up on the website. With 203K Professional, real estate agents and realtors get a chance to update their 203K projects and print their reports from the comfort of their homes or office.
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Gaining the Competitive Edge with the Best 203k consultant software

A Popular Program

We got involved in the HUD 203k Loan market originally at the request of our banker. As a successful home builder and remodeling firm, they asked us to partner with a neighborhood group focused on rehabilitating a section of a long-ignored neighborhood. Finding this a worthwhile and profitable endeavor, we have subsequently undertaken several other projects and intend to do a number of others.

While this is a program that works well, it is, nonetheless, a government-backed initiative that requires considerable paperwork and coordination. In fact, our team has found the actual repairs and rehab work are the easy part of each project compared to dealing with the:

Costs management
Loan documentation
Multiple forms required
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Advantages of Working With 203K Consultants

Applying for a 203K loan can be one of the best methods home buyers can use to invest in a piece of property. They have been designed to help prospective buyers take a risk on a property that has become damaged over time. The loan itself may also provide these buyers with the funds that they need to repair the damage itself. This could allow the home to be restored and potentially even resold by the owner on the market for a higher price.
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