FHA Proposes Condominium Rules Update (CAI)

On September 27, 2016, the Federal Housing Administration (FHA) released a proposed regulatory update to its condominium unit mortgage insurance program. On balance the rule has many positive aspects, including a limited “spot approval” process. The rule further allows individual condominium projects to receive an exemption to approval criteria on a case-by-case basis (excepting activities specifically addressed by statute, e.g., transient housing). The rule does not address association lien priority.     Read the article…………….


Related Articles

Why Condo Associations Need FHA Approval in 2017

Prior to 2005, few condominium boards paid much attention to Federal Housing Administration, or FHA, financing. At the time, the

EPA cracks down on stormwater violations, draining municipal resources

The visit from environmental inspectors had the nerve-rattling effect of an IRS audit.  Three U.S. Environmental Protection Agency staffers and

Common Laws For HOAs

HOAs create rules and guidelines for their residents to follow. However, the HOAs themselves must follow state and federal laws,