Posts Tagged CAI
Announcing CAI’s Mortgage Matters Program
Dear CAI Member, Following the worst housing and financial crisis since the Great Depression, the federal government is undertaking sweeping changes to the mortgage finance system. These changes will determine who gets mortgages, for what type of home and in what type of community. The impact of these changes will be profound and have the [...]
FHA Issues-CAI Needs Your Help; Survey
Posted On: March 31, 2011 by David C. Swedelson Community Associations Institute (CAI) is petitioning Congress to host oversight hearings examining the Federal Housing Administration (FHA) and its management of the FHA condominium insurance program. If your condominium association has applied for FHA approval, CAI would like you to take a short survey. The survey will help [...]
FHFA: The Fight’s not Over Yet!
As you are aware, thanks to the response of CAI members, the Federal Housing Finance Agency (FHFA)has made significant changes to its proposed regulation on private, deed-based transfer fees. And in case you missed it, your efforts made the national news with reports in the Washington Post and LA Times! But, our struggle is not over. [...]
FHFA Modifies Draft Transfer Fee Regulation
2/7/2011 - Alexandria , VA Community Associations Institute (CAI) is praising the Federal Housing Finance Administration (FHFA) for revising a proposed regulation that could have prevented potential homebuyers from securing mortgages for as many as 11 million U.S. homes. CAI lobbied the FHFA to modify its initial proposal, which would have prevented Fannie Mae, Freddie Mac [...]
CAI Takes Action on Mortgage Regulations
In 2011, a host of federal agencies will be issuing regulations that will create Qualified Residential Mortgages (QRM). These regulations are required under provisions of the Financial Services Reform Act passed in 2010. Under a provision titled “Risk Retention,” lenders will be required to retain an ownership interest in each mortgage they lend unless the mortgage meets the [...]
CAI Members Meet with FHA to Discuss Condominiums
On January 7th, a delegation of CAI members met with policymakers at the Federal Housing Administration (FHA), presenting the agency with practical difficulties condominium associations face when qualifying for FHA’s condominium mortgage insurance program. CAI’s member delegation focused on three problem areas that are preventing homeowners in many condominium associations from using FHA programs: