FHA Condo Approval Specialist: Trip to HUD Headquarters in Washington D.C.

Trip to HUD Headquarters in Washington D.C.

Trip to HUD Headquarters in Washington D.C.

hud headquartersThis week, HUD is holding roundtable sessions with industry leaders regarding the policies and guidelines for FHA condominium project approvals.  Monday and Tuesday the sessions were with project consultants like me, and Wednesday and Thursday are sessions with lenders.  These sessions are by invitation-only and I was honored to have been selected as a consultant to attend.

The next several articles will be directly related to discussions held during the roundtable, but I wanted to talk about the trip itself first, which was terrific despite the snow.

I left on Sunday morning and had made arrangements to meet up with friend and fellow ‘Rainer, Suzanne Otto, a home stager with Six Twenty Designs in Lansdale, PA.  We met at Starbucks and spent a couple of hours talking about business, family and, of course, blogging.  She chose a location that was convenient for me and I appreciate that she made the effort to do some extra driving to meet me!

I stayed with my friend, Chris, in Columbia, MD.  Chris and I graduated high school together in 1991 and he joined the Secret Service following his retirement from the Navy.  I was able to visit him at work in one of the service bays where he and his team work on the communications systems of the vehicles.  It was pretty cool!

The roundtable sessions on Monday and Tuesday were headed by Joanne Kuczma, Housing Program Officer at HUD’s Headquarters; Gary Long, Senior Credit Policy Specialist; and Ada Bohorfoush, Policy Analyst.  Also in attendance from HUD were the Chiefs of three of the four Homeownership Centers (HOCs): Philadelphia, Denver and Santa Ana; the Chief from Atlanta could not make it.

The Department of Veterans Affairs sent a representative as it is in the process of overhauling its condominium project approval process.  There were two representatives from Fannie Mae in attendance.  HUD and Fannie Mae have a great working relationship and maintain communication regarding each other’s policies and changes.

I was one of 16 consultants from across the country that were invited to attend the sessions.  HUD discussed potential policy changes and issues that it is encountering with condominium approvals.  The consultants were able to ask questions to clarify guidelines and to inquire about certain specific nuances and issues that we have regarding project approvals.  They were highly productive sessions, in my opinion.

After Monday’s session, we got to have dinner with the folks from HUD and Fannie Mae.  This was a fantastic opportunity to spend some personal time with folks with whom we work on an almost daily basis.  It was a load of fun and I had a blast talking and laughing with them.

al frankenOn the way to dinner, I ran into Senator Al Franken of Minnesota and stopped for this quick photo opportunity.  I like Mr. Franken despite being politically opposed to most of his policies.  But, how could I pass up a picture with SNL’s Stuart Smalley??

Aside from all of the tremendous information that I took away from the sessions, it is obvious that HUD really listens and makes adjustments as a result of feedback from the industry.  The HUD team works hard to strike a balance between that which helps consumers while working to mitigate risk to the insurance fund, which are the team’s two main priorities.

 

These sessions are typically held twice per year.  I hope that they hold the next one in September somewhere warmer.  Texas and Florida were pitched as potential locations and to either one, I say “yes”.

The Condominium Project Approval Team at ReadySetLoan is dedicated to helping condominium projects across the nation to obtain their approvals with FHA and the VA or become recertified with FHA.  We have assisted nearly 200 condominiums and we can help your association.

 

ReadySetLoan is an active member of the Connecticut and New England chapters of the Community Associations Institute (CAI) and is a frequent contributor to Common Interest Magazine as an expert in FHA/VA condominium project approvals.

 

Please contact us with any questions regarding FHA or VA condominium project approvals.  You can email me at askeric@readysetloan.com or call me at 404-433-4565. I will be happy to answer any of your questions.

 


FHA/VA Condo Approval Specialist

404-433-4565 Cell Phone

860-644-3772 Fax Phone

eric.boucher@readysetloan.com
ready set loan condo team

 

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Comment balloon 5 commentsReadySetLoan Condo Approval Team • March 26 2014 11:29AM

Comments

Eric I enjoyed our conversation this morning about your trip, and I am looking forwar to reading your blogs in more detail of what was covered at the roundtable sessions.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 4 years ago

Eric:  DC is one of the coolest places to visit in this world.  There's just an aura and energy to the city.  We took our kids a couple of times and hit as many places as possible during our stay.  They loved every minute of it.  Will be watching for your upcoming posts with interest ... will be great to know the direction that HUD is taking and learn from you ...

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) over 4 years ago

I loved those daily affirmations with Stuart Smalley!! Glad you had a good time and it was great finally meeting you!

Posted by Suzanne Otto, Your Montgomery County PA home stager (Six Twenty Designs) over 4 years ago

George, it was a great pleasure talking to you as well.  My first article about the roundtable will be about spot loans.

Gene, I hadn't been to DC since 1990 and have never been there with my kids.  I will be making arrangements to take them there this summer; it is a wonderful city.  Articles about the roundtable are forthcoming!

Suzanne, it was great to meet you too!  "I'm good enough.  I'm smart enough.  And gosh darnit, people like me."

Posted by ReadySetLoan Condo Approval Team, The FHA/VA Condo Project Approval Specialists (ReadySetLoan Condo Team LLC) over 4 years ago

Good morning Eric. What a wonderful experience that must have been. You could almost get into overload from all the information, but I'm sure you were a sponge. Will look forward to reading about some of your learnings.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 4 years ago

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