FHA publishes new rules following HOTMA

By Deborah Goonan, Independent American Communities Very interesting development! Not long ago, I wrote about Housing Opportunity Through Modernization Act (HOTMA), and what the policy might mean for the condominium industry and consumers alike. If you missed it, you can read about HOTMA here: New federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act and here: Easing FHA condo certifications and the Collapsing Housing Market Well, it appears that the U.S. Department of Housing Continue ReadingFHA publishes new rules following HOTMA

Easing FHA condo certifications and the Collapsing Housing Market

By Deborah Goonan, Independent American Communities   Experts are beginning to debate whether or not the US housing market is creating another bubble about to burst. Some say that strict Dodd Frank regulations enacted after the 2008 real estate fiasco have prevented the creation of bad loans made to unqualified buyers, and therefore we won’t see another 2008-style real estate market crash. The problem is that the housing market recovery has been uneven. At the Continue ReadingEasing FHA condo certifications and the Collapsing Housing Market

New federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act

By Deborah Goonan, Independent American Communities Those of us who follow legislative issues involving Association Governed Housing need to pay attention to the recent fast-tracking of H.R. 3700, Housing Opportunity Through Modernization Act (HOTMA). Community Associations Institute and the National Association of Realtors lobbied in favor of HOTMA, mainly because the bill requires the Federal Housing Administration (FHA) to ease mortgage financing requirements for condominiums. The obvious goal of both trade groups is to sell Continue ReadingNew federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act