Where We Are
FHA Pros Condominium and FHA Data
FHAPROS DATA now a RESO Standard in version 1.7
FHAPROS licenses real-time FHA condominium approval and eligibility data. Our technology provides realtor members the most up-to-date data in the industry to assist their clients in buying and selling properties. In addition, our condominium data displays by address, which condominiums listed for sale are FHA approved, and if approved, if the association is eligible for new FHA insured mortgages. Below are examples of our reports and the information only our FHAPROS technology provides:
When our condominium data is integrated with any MLS, agents can search only for FHA approved condominiums, instead of the current inefficient system of obtaining the legal name of each listing, logging out of the MLS system, and going to HUD.gov to search their roster, to see if the condominium even appears.
On each condominium listing, our check FHA eligibility button is at the top of the page for agents to click through to see the eligibility report.
If the condominium listed is FHA approved and eligible, the FHAPROS report displays valuable information never before available such as:
- Owner occupancy percentage
- Percentage of FHA loans within the association
- Number of Units in the association
- Decertification date
- Maximum FHA loan amount
- Legal name of the association
If the condominium listed is FHA approved but possibly ineligible (Yellow light), the FHAPROS report displays all of the above information and the reason for the caution. This immediately alerts agents and lenders that while the association is on the HUD approved roster, the current condition might make closing an FHA loan impossible.
If the condominium is not FHA approved, a red light appears to alert that the association is not FHA certified, and therefore an FHA borrower would be unable to complete the transaction.
FHAPROS can also integrate into the MLS platform an email system alerting agents whether or not their uploaded listing are or are not FHA approved and if not, a click through for them to contact the FHAPROS to assist in the certification of the association by FHA.
If you are an MLS or real estate agent interested in licensing options, click here.