UHS America’s Condo Project Review Team was formed in 2009, formerly known as HUD Contract Condo Team II – this team was awarded the national HUD contract to process and review the HUD Review and Approval Processing (HRAP) submissions received by the four Homeownership Centers (HOCs) that could not be handled by HOC staff. Over a two year period our Condo Team was assigned and processed over 15,000 submitted packages.
Our experienced Condo Project Review Team is now available to thoroughly examine FHA condo project approval and re-certification packages for those lenders and/or brokers that wish to have their submission package reviewed prior to submitting to HUD.
The benefits to be derived from our services are clear: a complete and accurate submission package will enhance the processing times experienced in obtaining FHA condo project approval status. Packages that are poorly assembled and contain “unforeseen” submission errors will result in rejections by HUD staff and substantial processing delays. Since HUD staff typically assign reconsideration requests a much lower priority, a poor submission package could seriously jeopardize the closing dates of any pending loan transactions.
Please contact UHS America for options on the package that best fits your needs.
UHS AMERICA – Condominium Project Processing & Review Services
Complete Condo Project Processing & Review Service: * $1,850 (plus any Home Owner’s Association (HOA) fees, if applicable)
Provide UHS America’s Condo Team with contact information (i.e. name, phone number or email address) of the HOA for the condominium project for which you are seeking FHA approval. Upon receipt, UHS America’s Condo Team will contact the HOA and begin compiling the documentation required by HUD/FHA in accordance with the provisions outlined in Mortgagee Letter 2011-22. Our Condo Team of experts will then conduct a substantive review of the documentation and make a determination if it meets FHA’s approval criteria. If it is determined by our Condo Team that the project cannot meet FHA’s approval criteria – a full explanation will be provided..
OPTION B: Condo Project Review and Submission to HUD: * $795
Submit your condo project documentation to UHS America’s Condo Team. Upon receipt, UHS America’s Condo Team of experts will conduct a substantive review of this package. Based on their review, a determination will be made if the package is complete and is ready to be delivered to the appropriate Homeownership Center (HOC) for HRAP approval. If additional documentation is needed, a detailed description of such documentation will be provided to the submitter so that they can gather this information before the package is delivered to the HOC for review. If our Condo Team determines that the project does not meet FHA’s approval criteria, a full explanation will be provided.
OPTION D: DELRAP “Peace of Mind” Review: * $595
Upon completion of the task of gathering all of the applicable condo project documentation, a Mortgage Lender may elect to submit this package to UHS America’s Condo Team. Upon receipt, our Condo Team of experts will conduct a substantive review of the documentation in accordance with the approval criteria outlined in ML 2011-22. If it is determined that any key documents are missing or any issues need to be addressed, our Condo Team of experts will communicate with the appropriate DELRAP reviewer to ensure that the FHA approval criteria have been met prior to the Lender’s approval of the project.
* Plus third party fees
Our service can potentially mitigate and/or off-set potential (un-needed) delays stemming from package deficiencies.
UHS does not represent HUD and does not know HUD’s current turn time for package examination / approval.
For more info please contact us