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Single Family Mortgage Insurance; Section 203(k) Consultant Placement and Removal Procedures

HUD · hud-fha · Published 2002-08-09 · Effective 2002-09-09 · 67 FR 52378

Document

Document number
02-20240
Federal Register citation
67 FR 52378
CFR reference
24 CFR 200
Type
Rule
Action
Final rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
2002-08-09
Effective date
2002-09-09
Docket
Docket No. FR-4592-F-02

Abstract

This final rule establishes placement and removal procedures for HUD's list of qualified consultants under the Section 203(k) Rehabilitation Loan Insurance Program. A 203(k) lender may select a qualified independent consultant, who is an expert in the field of home inspection, cost estimating, and construction, to perform various tasks required for the rehabilitation of the property. The establishment of these placement and removal procedures will better protect 203(k) borrowers and lenders, and safeguard Federal Housing Administration (FHA) insurance funds. This final rule follows publication of an October 24, 2001 proposed rule.

Source

Authoritative
Federal Register document
Machine
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