Fha Recertification Project Submission Form
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- MUST BE COMPLETE OR PROJECT WILL NOT BE ASSIGNED
*TYPE OF PROCESSING*
Only use this submission form for FHA recertification requests.
FHA
Recertification
Project Review
Submit all FHA Recertification processing requests to
*P
I
*
ROJECT
NFORMATION
Project Name
Phone
Address
Website
City
State
Zip
Loan Number
Estimated Loan Closing Date:
Type of Loan
Total # of Units:
*T
W
F
B
* - MUST BE COMPLETE OR PROJECT WILL NOT BE ASSIGNED
O BE COMPLETED BY
ELLS
ARGO
RANCH
Branch AU#
Region
HMC
Phone
Fax
Cell
Email
Branch Manager
Phone
Projects may be recertified beginning six (6) months prior to the approval expiration date or within six (6) months after the
approval expiration date.
Projects not recertified within six (6) months after the approval expiration date will require full project approval.
No new FHA case numbers will be assigned for those projects where the project approval has expired and the project has not
been recertified or reapproved.
1.
HOA CERTIFICATION FORM
– Must be current, fully completed and executed
2. ACTUAL HOA BUDGET & MOST RECENT FINANCIAL STATEMENTS – Budget must include line items to
ensure sufficient funds are available to maintain and preserve all amenities and features of the project; provides for
the funding of replacement reserves for capital expenditures and deferred maintenance in an account representing
at least 10% of the annual budget; and provides adequate funding for insurance coverage and deductibles. In lieu
of the actual budget documents, mortgagees may request and rely on Fannie Mae Form 1073a, Analysis of Annual
Income and Expenses – Operating Budget, executed by an authorized representative of the seller/servicer, owners
association, or management agent.
3. COPY OF INSURANCE POLICY – Must name the HOA as insured. Must have 100% replacement. Must include all
endorsements and evidence of fire, hazard, liability, and fidelity coverage. Coverage types, amounts, and
deductibles should be provided; and all buildings and/or units will need to be identified. For projects greater than
20 units, Fidelity/Employee Dishonesty required, coverage must be no less than a sum equal to three months
aggregate assessments on all units plus annual reserve funds. If the association does not provide for "All-In" hazard
insurance coverage, then the borrower will need to purchase a Homeowners-6 (HO-6) policy to sufficiently insure
all the betterments within the confines of their unit.
4. PRELIMINARY TITLE REPORT FOR SUBJECT PROPERTY – Can be a Unit Buyers Title Report.
5. RECORDED CONDO/PLAT MAP (NO LARGER THAN 11x17) indicating legal description
6. RECORDED DECLARATIONS & any or all Annexations & Amendments that apply.
7. EXECUTED AND ADOPTED BYLAWS
8. ARTICLES OF INCORPORATION- Filed with the State – When applicable.
9. HOA TAX ID NUMBER – If Applicable
10. MANAGEMENT AGREEMENT, if applicable. If self managed, please submit a letter on appropriate letterhead.
11. FEMA FLOOD CERTIFICATION FORM – this document will be ordered by Project Underwriter.
12. OUTSTANDING OR PENDING LITIGATION ANALYSIS, if applicable.
13. HOA MEETING MINUTES – Last two HOA Meeting minutes (if applicable)
14. NUMBER OF BANK OWNED REO UNITS _________
NOTE – Standard Approvals and Recertification’s are valid for 2 years (subject to FHA post review).
Additional documentation may be required once the file has been reviewed in order to determine
acceptability. Questions call NPRES: 800-840-5807
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