203k-HUD Consultants: When the Unstoppable Force strikes the Immovable Mass...

...OR; When are we gonna get better HUD Consultants?..More consultants? Expand the 203k program? There's only one problem, no one seems to be doing anything about it and all we get is Lip Service bemoaning poor performance standards and the lack of consultants around the country...And let's not forget this very problem spawned proliferation of third party non-consultant Servicers around the country (although expanding Fannie Mae loans)?...how's that workin for ya?

There's little doubt that HUD has no intention of qualifying?consultants no matter how many Webinars and Public Forums they host. The only chance to bring uniformity and proliferation to the consultant problem is for the MBA to take the lead and mandate some form of education and qualifying?standards testing. As much as HUD insists that the program was created for lenders to use, they (MBA) might consider taking the initiative to solve the consultant problem themselves now.??

Think of it in terms of Home Inspectors, most every state?requires licensing and that requires education to ensure qualifying standards. Currently HUD has no verifiable?standards?whatsoever. So how?can you expect any consistency? They say some?education is better than none, but is?it? With the proliferation of "one stop shops" for consulting/construction/sales/software and?in some cases lending, there's no guarantee that they're all using the same playbook either.?Although there's HUD Consultant education available in the marketplace, only a few consultants deem it beneficial...and without a requirement why would they?

?So how do we expand 203k beyond metropolitan areas? Even if you engage Realtors and the buying public, where are the consultants coming from?..And what motivation is there for new hires? The only group that can solve this problem is the MBA, it's never going to come from the big box lenders...It's your move.