HUD to Ease Documentation Requirements on New Construction Loans to Facilitate FHA Financing
August 10, 2006
The Department of Housing and Urban Development will soon issue a mortgagee letter that will relax documentation rules for new housing construction to make it easier for lenders to offer FHA financing, according to a top agency official. Meg Burns, director of FHA single-family program development, this week confirmed that a mortgagee letter is in the works to address concerns raised by certain FHA lenders regarding the bur-densome documentation requirements for new construction financing...