The Federal Housing Administration, generally known as “FHA”, is the largest government insurer of mortgages in the world. A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the United States and its territories. While borrowers must meet certain requirements established by FHA to qualify for the insurance, lenders bear less risk because FHA will pay the lender if a homeowner defaults on his or her loan. Currently, FHA has 5.2 million insured single-family mortgages and 13,000 insured multifamily projects in its portfolio.

When the FHA buys a home back from a lender, that home becomes a “HUD” home.  At that time HUD will have their contracted property manager maintain the home and prepare it for sale.  The property manager will list the property with a real estate broker that is also contracted with HUD.  When the home sells, the contract is sent to the contracted closing agent for the escrow and closing.  Monument Title is the contracted closing agent for Utah, our HUD Team is here to help you close your transaction.  The property management company is michaelson, conner, & boul (MCB) (This link will take you to the Utah portion of their website.) There you will find some very useful information like the

* Broker Handbook;
* Local Listing Brokers;
* Forms and Addendums;

and a lot of other important information to help facilitate your HUD transaction.  Use these links to find a list of HUD homes for sale, understand the HUD process by reviewing the Broker Handbook, or download forms for contract extensions or to add a purchaser or cancel a contract.