It has relaxed its previously controversial requirement that at least 50% of the units in a project be sold before FHA could insure loans for new buyers on individual units. Under the amended rule, FHA financing will be available in projects where at least 30% of the existing units have been sold. HUD also relaxed its controversial policy that no more than 30% of the units in a condo project could be financed with FHA-insured mortgages. The new standard maximum will be 50%. Under certain circumstances, however, HUD said it would be willing to consider situations where the percentage of FHA financing on individual units is even higher.
http://realtytimes.com/rtpages/20091120_investorreport.htm
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