File name: Fha Amendatory Clause Pdf
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fha amendatory clause “It is expressly agreed that, notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property . This form is required by HUD Handbook Rev-4 paragraph for Sales Agreements intended to be financed by an FHA-Insured Mortgage and by VA Lender's Handbook Section . Paperless Workflow · Over k Legal Forms · Trusted By Millions · Fast, Easy & SecureService catalog: Document Management, Electronic Signatures, Cloud Storage. This form is required by HUD Handbook Rev-4 paragraph for Sales Agreements intended to be financed by an FHA-Insured Mortgage and by VA Lender’s Handbook Section (j) for Sales Agreements intended to be financed by a VA-guaranteed Mortgage. with HUD/FHA or VA requirements, a written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender setting forth the appraised value of the property of not less than $___________*. The dollar amount to be inserted in the amendatory clause is the sales price as stated in the contract. If the borrower and seller agree to adjust the sales price in response to an appraised value that is less than the sales price, a new amendatory clause is not required. with HUD/FHA or VA requirements, a written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender setting forth the appraised value of the property of not less than $___________*. The dollar amount to be inserted in the amendatory clause is the sales price as stated in the contract. If the borrower and seller agree to adjust the sales price in response to an appraised value that is less than the sales price, a new amendatory clause is not required. This chapter describes the documentation requirements for each loan submitted for mortgage insurance and the specific requirements lenders must observe in processing and underwriting FHA-insured mortgages.