InsideMortgageFinance: #FHA Reevaluates ‘Spot Loans’ for - TopicsExpress

InsideMortgageFinance: #FHA Reevaluates ‘Spot Loans’ for #Condo Financing The FHA is reportedly considering reinstating “spot” loans in condominium projects that were not on its approved development list to boost FHA-insured condo lending. Spot loans are currently prohibited, but the FHA is said to be reevaluating the product because of reports of first-time homebuyers having difficulty in obtaining FHA financing for condo unit purchases and seniors seeking reverse mortgages to tap the equity in their units. bit.ly/1zNkVHy #FannieMae #mortgage

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