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FHA Supported Lending: New Expiration Dates for Recertification of Condominiums

The FHA has issued new expiration dates for recertification of condominiums to be eligible for FHA supported lending…

Content by Terri A. Morris

The condominium project approvals granted by the Federal Housing Administration (FHA) expire two (2) years from the date of approval; however, the FHA has issued new expiration dates in light of the current state of the housing market. The FHA is recommending that condominium recertification be sought six (6) months prior to the expiration of a condominium’s certification in order to avoid disruption in FHA-supported lending.

Initial Project Approval Date
Current Expiration Date
New Expiration Date

Condominium projects that will require full project approval packages for recertification are those with initial project approval dates prior to January 1, 2000. Condominium projects with initial project approval dates on or after January 1, 2000 are eligible for the streamlined recertification process. All condominiums that have not been recertified within the six-month period prior to the new expiration date (above) will be required to submit for full project approval rather than submitting a package for streamlined recertification. Packages for recertification are usually submitted by lenders through the HUD Review and Approval Process (HRAP) or by qualified lenders through the Direct Endorsement Lender Review and Approval Process (DELRAP); however, the condominium association, the management company, or an attorney or project consultant on behalf of the association or management company may apply for recertification. The recertification process requires submittal of the following documents:

1. General Information:

  • FHA Condo ID
  • Project address
  • Description of the property – lot, block, plat
  • Month/year of completion, or completion date of each phase
  • Name & contact information of the individual requesting recertification

2. Condo legal documents:

  • Recorded plat map with legal description
  • Recorded CC&R’s
  • Signed & adopted Bylaws
  • Articles of Incorporation filed with the State
  • Recorded condominium site plans

3. Financial Documents:

  • Budget (Actual, not older than 12 months)
  • Fannie Mae Form 1073a
  • Reserve Study (if budget and Form 1073a are insufficient)

4. Management Agreement (financial info may be redacted)

5. FEMA Flood Map:

  • LOMA, LOMR or Elevation Certificate

6. Evidence of Required Insurance Coverage:

  • Master Flood Insurance Policy
  • Liability Insurance
  • Hazard Insurance
  • Fidelity Bond Insurance

7. Date that transfer of control occurred

8. Pending Litigation and whether association is in receivership/bankruptcy (does not include routine foreclosure actions by lenders)

9. Pending Special Assessment(s) and purpose

10. Total number of planned phases in project

11. Total number of units in planned phases

12. Total number of units

13. Number of owner-occupied units

14. Number of tenant-occupied units

15. Number of units vacant and unsold

16. Number of bank-owned units (REO)

17. Number of investor-owned units by investor

18. Number of units more than 30 days in arrears on assessments (include REO)

19. Number of defined affordable housing units

20. Number of defined rent stabilized units

21. Percentage of commercial space

22. Whether the condominium legal documents have been changed since the project was initially FHA approved, and whether the changes affect eligibility of the project

hoa laws HOA Boards of Directors and Community Association Management are encouraged to confirm the original date that the condominium project was approved by the FHA in order to ensure that recertification is obtained prior to the new expiration date.

Condominium project approval dates can be obtained at the following web address:

Contact Information