FHA Condo Certification Rule Awaits Review by Trump Administration

The Federal Housing Administration (FHA) recently issued its long-awaited proposed rule regarding standards for condominiums in which individual unit owners are eligible to obtain FHA-insured loans. However, final action awaits review by new housing agency officials in the Trump Administration.  Mortgages backed by the FHA allow borrowers to make a lower down payment and have less stringent financial qualification criteria than conventional mortgages. Of the estimated 150,000 condominium nationwide, fewer than 10,000 are certified for FHA-insured loans.     Read the article…………..


Related Articles

HOA boards are wild card in litigation game, author says

Forgive Evan McKenzie for feeling a sense of deja vu. He has seen homeowners association scandals such as the one

NJ judge dismisses dispute regarding condo association, Blue Diamond Disposal

New Jersey Superior Court Judge Stuart Minkowitz has denied a request from the Franklin Meadows Condominium Association that would require

Fair Housing Law: U.S. Supreme Court upholds disparate impact claims

Can enforcement of a rule, regulation, practice or procedure that is completely neutral on its face create liability for discrimination?