FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024, FHA adopted the “Floodplain Management and Protection of Wetlands; Minimum Property Standards for Flood Hazard Exposure; Building to the Federal Flood Risk Management Standard” rule. The rule adoption revised HUD’s regulations governing floodplain management and the protection of wetlands. This Mortgagee Letter implements the provisions of the rule adoption, and updates FHA’s Minimum Property Standards for all newly built single-family residential structures (except for manufactured homes) being financed through the FHA Single Family program. The Mortgagee Letter went into effect November 7, 2024.
Click to view the FHA Mortgagee Letter 2024-20: https://www.tenaco.com/wp-content/uploads/2024/11/FHA-Mortgagee-Letter-2024-20-11-07-24.pdf
Click to view the FHA Info #2024-76: https://www.tenaco.com/wp-content/uploads/2024/11/FHA-Info-2024-76.pdf
