Expiration for Project Reviews

Project reviews must meet the following timeline requirements.

Limited Review Full Review for Established Projects	Must have been completed within one year prior to the note date
Full Review for New Projects	Must have been completed within 180 days prior to the note date
Approved by Fannie Mae as reflected in CPM	Must be valid (unexpired) as of the note date
Approved by FHA	Must be valid (unexpired) as of the note date

Loans secured by units in a project that fails to meet Homium’s project eligibility requirements under the applicable review type as of the note date are eligible for closing and funding after the project comes into compliance with the eligibility requirements (provided all standard mortgage seasoning and other applicable requirements are met). For example, if an originator submits a loan in a new project for which the pre-sales are less than the pre-sale requirement, the loan may be closed and funded after the project’s pre-sales meet the Homium requirement (assuming the loan meets all other applicable requirements).