FHA approved condo project question

[NJ Valuator]

On the HUD condo list, it states that the project Status is rejected but under rejected it states "Register Single-Unit".

In the Composition of Project column it states 110 RESIDENTIAL UNITS
REGISTERED SINGLE-UNIT APPROVAL. FHA CONCENTRATION IS RESTRICTED.

So in summary the project as a whole is not approved but individual units can be approved on their own individually. Is this correct?

 

[J Grant]

idk - why is that our problem - condo HUD approval is a lender resposiblty and they are expected to know that before giving us the assignment.

 

[sputnam]

idk - why is that our problem - condo HUD approval is a lender resposiblty and they are expected to know that before giving us the assignment.

Correct

 

[jay trotta]

On the HUD condo list, it states that the project Status is rejected but under rejected it states "Register Single-Unit".

In the Composition of Project column it states 110 RESIDENTIAL UNITS
REGISTERED SINGLE-UNIT APPROVAL. FHA CONCENTRATION IS RESTRICTED.

So in summary the project as a whole is not approved but individual units can be approved on their own individually. Is this correct?

If I remember correctly, yes, individual can get approved. It would need approval on an individual basis, because the project may have not completed the application for approval as a whole.