HomeBridge has updated the Contractor Acknowledgement forms required on Fannie Mae HomeStyle and FHA 203(k) Standard and Limited renovation loans to include additional language.
A new Draw Disbursement Check Waiver and Consent form, which details how the checks for the renovation funds are issued, will be required on all Fannie Mae HomeStyle and FHA 203(k) renovation loan (currently only required on VA renovation loans).
The updated Contractor Acknowledgement and new Draw Disbursement forms will be required with renovation loans submitted on or after September 1, 2018. Both forms will be recommended, but not required, at submission.
The Contractor Acknowledgement form has specific versions for the applicable program and are posted under “FHA 203(k) Specific