Modernizing FHA Minimum Property Requirements: What Lenders Need to Know
For the first time in over 20 years, the Federal Housing Administration (FHA) is considering a major update to its Single Family Minimum Property Requirements (MPRs). The Department of Housing and Urban Development (HUD) has issued a Request for Information (RFI) to gather market feedback on how to modernize these policies and support sustainable homeownership. As FHA-approved Mortgagees are the primary entities responsible for applying these standards at the loan level, this initiative has significant implications for the banking and mortgage lending industry.