The definition depends on timing. Before due and payable approval is granted, corporate advances are taxes, hazard insurance premiums, ground rents and assessments (including HOA/condo fees) paid on the borrower’s behalf. After due and payable approval has been granted, corporate advances include the items identified in 24 CFR 206.129(d)(2) that may be itemized on the claim.
Any questions may be directed to the FHA Resource Center at Toll-Free (800) CALLFHA (225-5342) or by email to firstname.lastname@example.org. Persons with hearing or speech impairments may reach this number by calling the Federal Information Relay Service at (800) 877-8339.