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How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.

New FHA condo approval rule

The FHA has issued a new condominium approval rule which will allow certain individual condominium units to be eligible for FHA mortgage insurance even if the condominium project is not FHA approved. The policies set out in the new rule become effective October 15, 2019. The rule:

  • introduces a new single-unit approval process to make it easier for individual condominium units to be eligible for FHA-insured financing;
  • extends the recertification requirement for approved condominium projects from two to three years; and
  • allows more mixed-use projects to be eligible for FHA insurance.
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