Posts Tagged FHA
Davis-Sterling.com Newsletter – 10/23/2011
MEDIEVAL TIMES QUESTION: In about 5% of my associations, recruiting a quorum of board members is no longer possible. A Berkeley professor who lived in one of my HOAs suggested a lottery in which members would be drafted to serve as a director. He said it was done in medieval times in Italian city-states where every male [...]
My Condo Association Did Not Get FHA Approval – Can I sue them?
By Beth Grimm Question – can we sue an association that does not have FHA Approval. The answer: anyone can sue anyone for anything and whether there is any chance of success depends on whether the party being sued had a duty, breached it, that breach caused losses and the losses can be proved. Here, [...]
FHA Approval and Your Association: What You Need to Know
By Sandra L. Gottlieb, Partner, SwedelsonGottlieb Now that the “spot loan” approval process (which allowed for on-the-spot FHA approval of an association for the benefit of a buyer) has been eliminated, it is only possible for an owner or prospective purchaser of a condominium to obtain an FHA-insured loan if the association is or becomes [...]
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 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:
New FHA eligibility rules could rattle condo market
By Kenneth R. Harney Friday, December 10, 2010; 9:27 AM Tens of thousands of condominium unit owners across the country may not know it, but their ability to sell or refinance could be jeopardized by a rolling series of federal government deadlines.