Form Update
Description
Update selection logic for Borrower's Contract with Respect to Hotel and Transient Use of Property to return only when the Financed Units is greater than one, irrespective of property type. Currently, it returns for all Property Type = Condo on the basis of a prior FHA Info Alert. Current Handbook 4000.1 requires it return for any property with 2-4 units under its General Property Eligibility Criteria.
FHA Single Family Housing Policy Handbook 4000.1, II.A.1.b.iv(A)(4)