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CONDOMINIUM PROJECT APPROVAL and PROCESSING GUIDE June 30 , 2011 Table of Contents INTRODUCTION Chapter 1: Project Approval Process and General Requirements 1.1 Overview .

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Presale letters are for new condominium projects. For example, if there is a brand new condo project with ten units, the VA requires that 70% of those, or seven units, are already pre-sold—meaning a contract has been written and someone will move into the condo when it's finished.

(HUD-9991 and HUD-9992) Form HUD-9991 is used to process single-unit and loan-level approvals for both forward mortgages and Home Equity Conversion Mortgages (HECM). Form HUD-9992 is used to process condominium project approval applications.

A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium that's part of a homeowner's association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lender's underwriting prerequisites.

(HUD-9991 and HUD-9992) Form HUD-9991 is used to process single-unit and loan-level approvals for both forward mortgages and Home Equity Conversion Mortgages (HECM). Form HUD-9992 is used to process condominium project approval applications.

The Mortgagee must complete form HUD-9991. The Mortgagee must complete the questionnaire with information obtained within the last 90 days from verifiable sources, including a Condominium Association, public records, independent third parties, or other data sources.

HRAP stands for HUD Review Approval Process. This is where FHA itself approves a complex based on the package sent in by the condo's governing body, usually the homeowner's association or management company. The other type of approval is called DELRAP, or Direct Endorsed Lender Review Approval Process.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232