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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