Lender Alerts

Sun West Mortgage Approved List of 203(k) Consultants

Dear Licensed Partner,

For Standard 203(k) Rehabilitation Mortgages, the Department of Housing and Urban Development (HUD) requires the use of a HUD-approved 203(k) Consultant. Under the new HUD Handbook 4000.1, lenders are required to select an FHA-approved 203(k) Consultant from the FHA 203(k) Consultant Roster in FHAC.

The HUD Consultant must be selected from an approved list that has also been reviewed by Sun West prior to ordering any Consultant services or making any agreements with the Consultant or the borrower.

Consultants who are interested to be included in Sun West’s approved list must submit supporting documentation pertaining to the HUD requirements below to vendororders@swmc.com at Sun West for review and verification. Supporting documents may include a resume that contains credentials, training, work experience, and relevant information, along with recent applicable references.

• Consultants must have a minimum three years of experience as a remodeling contractor, general contractor, or home inspector, unless the Consultant is a state certified engineer or architect
  
• In states where a home inspector is required to be licensed, the Consultant must also be licensed and provide proof of the licensing
  
• The Consultant must have the proven ability to perform home inspections, prepare architectural drawings, use proper methods of cost estimating, and complete draw inspections
  
• The Consultant must have a thorough knowledge of the FHA 203(k) program, FHA’s minimum property standards, and state and local requirements for home improvements, additions, etc.

Services from approved 203(k) Consultants can be ordered using third-party services available on the Sun West website.

If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.

Sincerely,

Sun West Mortgage Company, Inc. 18000 Studebaker Road, Suite 200 Cerritos, CA 90703 Phone: (800) 453-7884