The Department of Housing and Urban Development (HUD) is seeking public comment on ways to revise the fee schedule for the 203(k) Program Consultants. The 203(k) Program enables homebuyers and homeowners to finance the purchase, or refinance of a home and its rehabilitation costs through a single mortgage.
HUD is specifically seeking information to determine whether 203(k) Consultant fees should:
- Retain the current fee structure but update maximum fees
- Allow Consultants to charge fees that are reasonable and customary
- Develop a different metric on which to base Consultant fees
- Index Section 203(k) Consultant fees to another measure
Comment Due Date: November 7, 2016