September 14, 2015
Today, Monday September 14, 2015, the new FHA Single Family Home Loan Policy Handbook takes effect. It’s called HUD 4000.1 and is now the reference for all FHA single family home loans.
Up to now, certain parts of the handbook have been in effect, while other portions were printed but not effective until today’s launch date.
A variety of policies have been superseded by the new guidebook, while others have been reproduced and ported over. The new Single Family Policy Handbook is broken down into five basic sections, and there is an FHA/HUD FAQ preview page that answers the most common questions about the new guide, certain changes, and restatements of existing policy.
You can find that FAQ page at http://portal.hud.gov/hudportal/documents/huddoc?id=SFH_FAQ_Preview.pdf. It previews a variety of questions and their answers. FHA and HUD may revise/update this page to take it out of preview mode at any time as of this writing, in which case a new PDF and/or link may be issued by the FHA as an update.
If you find that the link above no longer works, you may need to search the FHA official siteto find a more permanent version of the document.
Over the coming days we will examine the new guidebook in detail to see how FHA loan policy is laid out now.
The FHA and HUD may maintain the previous FHA single family loan policy handbook, HUD 4155.1, as an archive for reference purposes, but borrowers and lenders alike should know that the old handbook is no longer, as of September 14, 2015, considered active policy.
Do you work in residential real estate? You should know about the free tool offered by FHA.com. It’s designed especially for real estate websites–a widget that displays FHA loan limits for the counties serviced by those websites.
It is easy to spend a few seconds customizing the state, counties, and widget size for the tool; you can copy the code and paste it into your website with ease. Get yours today: http://www.fha.com/fha_loan_limits_widget
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
Browse by Date: