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PUDS/Condos - What is needed for VA to approve a PUD or condominium?

Published 08/09/2012 12:38 PM   |    Updated 08/09/2012 12:38 PM
What is needed for VA to approve a PUD or condominium?
VA no longer reviews PUD organizational documents to determine acceptability.  The lender is responsible for ensuring that both title and lien-related VA regulatory requirements are met.  Refer to VA Lender's Handbook, Chapter 16; Section 16-A.01 lists the applicable requirements.  Condominium organizational documentation must be submitted for review to the C&V section, at the VA Regional Loan Center having jurisdiction.  Refer to Lender's Handbook, Chapter 16; Section 16-A.03 lists the required documents.