Builder Warranty for High-Ratio FHA-Insured Single Family Mortgages for New Homes
HUD · hud-fha · Published 1999-03-25 · 64 FR 14572
Document
Document number
99-7345
Federal Register citation
64 FR 14572
CFR reference
24 CFR 203
Type
Rule
Action
Interim rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
1999-03-25
Docket
Docket No. FR-4288-I-01
Abstract
This interim rule permits FHA insurance for a mortgage on a new home to exceed a 90 percent loan-to-value ratio if the home is covered by a 1-year builder's warranty that meets the requirements of HUD regulations. Recently-enacted legislation has increased FHA's flexibility to set the conditions for insured mortgages on new homes.