FHA Eases On Tighter Condo Rules, Ends ‘Two-Appraisal’ Rule for Jumbo Loans
November 24, 2009
The FHA is gradually moving toward tougher rules on insurance loans backed by condominium units, but an interim rule in effect for next year is designed as a transition that takes into account tougher standards that many lenders have been implementing on their own. Separately, the agency is easing up a bit on appraisal requirements for conforming jumbo FHA loans. The temporary condo rules...