FHAPROS can affordably process CC&R reviews for all HOA projects for mortgage lenders who are looking for a compliance solution for their underwriters, whose time is too valuable to spend on the tedious job of reading hundreds of pages of CC&R’s and rules and regulations. These reviews typically cover FHA forward and reverse mortgages as outlined in the FHA 4000.1 guidelines, and can cover all the following:
- Free Assumability under 24CFR Section 206.45 (e)
- Prior HOA approval of non-purchase money mortgages encumbering the property.
- Mortgage defense clauses for FNMA/FHLMC or portfolio loans.
If you are a mortgage company and are interested in an outsourced solution by a company that has reviewed 30,000 sets of CC&R’s, contact us and we would be happy to discuss.