Uncategorized
Jennifer Emerling / There Is More Work To Be Done
Jennifer Emerling / There Is More Work To Be Done
FHA single-family home warranty requirements (12/14/18)
| Agency | HUD FHA |
| Action | Final rule |
| Date | 12/14/18 |
| Link | https://www.federalregister.gov/documents/2018/12/14/2018-27116/streamlining-warranty-requirements-for-federal-housing-administration-fha-single-family-mortgage |
|
This final rule streamlines the home warranty requirements for FHA single-family mortgage insurance by removing the regulations that require borrowers to purchase 10-year protection plans in order to qualify for certain mortgages on newly constructed single-family homes. The builder and buyer of a new construction home will still be required to execute a Warranty of Completion of Construction. |
|