FHA Condo Rules are Outdated and Burdensome, Say 69 Members of Congress

In a letter sent last week to Department of Housing and Urban Development Secretary Shaun Donovan, 69 members of Congress urge the housing agency to ease up on its rules regarding condo lending. Among the specific rules under consideration, the congress members urge HUD to look at the rule on delinquent assets, onerous certification requirements, owner-occupancy requirements and commercial space.

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