FHA Has Issued New Owner Occupancy Requirements for Condominiums

As explained in a recent Kaman Report, in July 2016, President Obama signed into law H.R. 3700, the “Housing Opportunity through Modernization Act of 2016.” This law allowed FHA 90 days to issue new regulations pertaining to the owner occupancy requirements when reviewing condominium associations for FHA certification. On October 26, 2016 FHA released Mortgage Letter 2016-15, which amends FHA’s Condominium Project Approval and Processing Guide.     Read the article………….


Related Articles

Open Board Meetings are not required by Ohio Law, but may be required under the Organizational Documents

Homeowners elect board members at the annual meeting, who are then responsible for making comprehensive business decisions for the association,

Reservation of Rights

Most community association board members are aware that if a person sustains an injury in the association’s common elements, such

Security Measures and Association Liability

Security measures for common areas, limited common areas, and resident property are a source of constant concern for many Boards,