Tag Archives: agency

FHA Certification – Mortgage Squeeze

Condominiums are feeling the pinch of the Federal Housing Administration’s new certification requirements as many find themselves ineligible for FHA approval.  That’s left owners and buyers without the option of cheaper FHA mortgages.

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FHA Regulation Update

Community Association Institute Members Meet with FHA to Discuss Condominiums On January 7th 2011, 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: 

Deed Restrictions on Investor-Owned Units & Owner Occupancy Requirements Lease Term Restrictions and Room Occupancy Limits Restrictions on Condominiums with Affordable Housing Units

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CAI Members Meet with FHA to Discuss Condominiums

On January 7’h, a delegation of CAl 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. CAl’s member delegation focused on three problem areas that are preventing homeowners in many condominium associations from using FHA programs:

  • Deed Restrictions on Investor-Owned Units & Owner Occupancy Requirements
  • Lease Term Restrictions and Room Occupancy Limits
  • Restrictions on Condominiums with Affordable Housing Units
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