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…………..
Maryland Senate and House Both Have Bills To Limit Collection Of Attorney Fees In Actions Against Homeowners
Bills introduced late in both houses of the Maryland General Assembly would limit the rights of condominiums and homeowners associations
Although Individual Board Members Owed a Fiduciary Duty to Individual Condo Owners, the Corporation Did Not (NY)
Condominiums—Homeowners Associations—Business Judgment Rule—Plaintiff May Assert Claim for Breach of Fiduciary Duty and Punitive Damages Against Individual Members of a
4th Circuit Court of Appeals (NC) rules that property management company is not subject to the FDCPA
A June 3, 2014 ruling from the 4th Circuit Court of Appeals (which includes North Carolina) is good news for