Regulacje i polityka gospodarcza · 01/10/2007

Standards for Mortgagor's Investment in Mortgaged Property

The Department of Housing and Urban Development (HUD) has finalized a rule that clarifies the standards for a mortgagor's investment in a property insured by the Federal Housing Administration (FHA). The new rule allows a mortgagor's investment to be derived from gifts by family members and certain organizations, while prohibiting downpayment assistance from certain sources, including the seller or any party that financially benefits from the transaction.