New FHA Condo Rules’ Risks and Rewards

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Posted To: MND NewsWire

Back in July, President Obama signed HR3700 The Housing Opportunity Through Modernization Act of 2016. The law makes a number of changes in existing housing regulations including the methods under which housing assistance is certified and delivered. It also changes rules condominium complexes must meet to be eligible for Federal Housing Administration (FHA) insurance. New rules have been promulgated under the legislation by the Department of Housing and Urban Development (HUD) and are now in the 90-day comment period. Jacqueline Doty, CoreLogic Vice President for Product Management and Collateral Risk Solutions, writing in the current issue of MarketPulse says “It is time to make a clear-eyed assessment of the risks and rewards that HR 3700 will bring.” While it is great the Congress has acted…(read more)

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