Regulation & law · 14/12/2018

FHA Streamlines Warranty Requirements for Single-Family Mortgage Insurance

The Federal Housing Administration (FHA) has removed the 10-year protection plan requirements for borrowers to qualify for certain FHA single-family mortgages on newly constructed homes, aligning with the Housing and Economic Recovery Act of 2008 (HERA). The new rule still requires the Warranty of Completion of Construction (HUD-92544) to be signed by the builder and buyer.