New FHA/HUD Underwriting Standards

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HUD recently addressed FHA underwriting standards which will have a significant influence on both appraisal and market study/analysis work. We have tagged the PDF showing the letter issued by HUD dated July 6, 2010 which outlines details of these changes under the HUD Multi-Family Risk Litigation Program.

 

Many of these changes as they relate to market analysis have been addressed by NCAHMA (GAR is an active member in good standing with this trade organization) and their FHA working groups’ recommendations. HUD and FHA have begun to implement NCAHMA standards and guidelines in regards to market study requirements, and the NCAHMA affiliation has been instrumental in setting new and recent policies adopted by HUD.

 

HUD Mortgagee Letter

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