Exciting Changes to FHA's 203K Rehab Program: Expanded Limits and Extended Timelines - Legislative Update by Alice Alvey
FHA's recent updates to the 203K Rehabilitation Program, detailed in Mortgagee Letter 24-13, include increased caps, extended rehab periods, and enhanced options for financing consultant fees, aiming to broaden homeownership opportunities and streamline project management.
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Alice Alvey, Master CMB
Vice President Partner Education and Training at Union Home Mortgage
She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.
Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.
She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.
Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!