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Home » Store » Taxable » FHA Lenders Urged to Carefully Weigh Need for Repair, Inspection

FHA Lenders Urged to Carefully Weigh Need for Repair, Inspection

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FHA lenders must require additional home inspection and repair if necessary to ensure that property conditions do not pose any danger to the occupant or to the property’s structure, according to the Department of Housing and Urban Development. In a Dec. 19 mortgagee letter, HUD urged lenders to use their professional judgment and to rely upon prudent underwriting standards in deciding when repairs and additional property inspections should be required. …
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