President Obama Signs Legislation Modernizing FHA Condominium Approvals

The White House announced President Barack Obama has signed H.R. 3700, the Housing Opportunity through Modernization Act. H.R. 3700 is now federal law.  H.R. 3700 reforms the process used by the Federal Housing Administration (FHA) to determine if condominium unit owners qualify for a mortgage with FHA insurance. FHA does not originate mortgage loans, but instead insures mortgages against default.    Read the article……………..


Related Articles

Santander Condominium Association, Inc. v. AA Construction 1 Corp., N.J. Super. App. Div.

Respondent hired nonparty to repair the façade of a condominium building on its property; the non-party subsequently entered into a

Legislative Roundup: Impacting Condos, Co-ops, and HOAs

The legislative season is upon us, and in many states, bills specifically dealing with condos, co-ops and HOAs are wending their way through the legislative process

New FHA Rules to Create New Association Duties

a community association could face liability for the discriminatory acts of residents who harass or create a hostile environment for other residents