National Legislation

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Written By Elina B. Gilbert | Tuesday, September 2, 2014

On August 13, 2014, we blogged to warn condominium communities that temporary FHA condominium approval guidelines were about to expire on August 31st.   However, FHA has just announced an...

Written By Elina B. Gilbert | Tuesday, April 8, 2014

With all the crazy weather, storms, and flooding around the Country, it’s no wonder homeowners have become a little nervous about flood damage and being able to obtain flood insurance.  However, President Obama has recently signed into law the Homeowner Flood Insurance Affordability Act (HR 3370) to address this...

Written By Melissa M. Garcia | Monday, February 3, 2014

Last Thursday, the Senate approved S.1926, the “Homeowner Flood Insurance Affordability Act of 2014” by a vote of 67-32.   This will delay dramatic increases in federal flood insurance premiums until 2017.

  During the next few years the Federal Emergency Management Agency (...

Written By Elina B. Gilbert | Wednesday, October 16, 2013

With the recent government shutdown still in effect and no end in sight, many home buyers are wondering how this will impact their ability to obtain FHA financing and whether homes can be sold using FHA during this uncertain period.

In response to the influx of inquiries, FHA has published several Q&A articles on the HUD...

Written By Loura K. Sanchez | Tuesday, January 29, 2013

The CFPB issued its 804 page regulation recently as a part of the rule making required by the Dodd Frank Act.  Many of you may be saying why do I care?

These...

Written By Loura K. Sanchez | Thursday, January 10, 2013

This morning, the Consumer Financial Protection Bureau released its federal Qualified Mortgage standard.  The new guidelines establish minimum requirements for all mortgage loans which now include association assessments. Lenders are required to prove that borrowers have the financial resources to pay mortgage principal and interest, insurance premiums, property taxes and association...

Written By Trisha K. Harris | Thursday, November 29, 2012

I have sat through countless Board meetings where Board members and owners alike bemoan the condition of bank-owned properties in the community.  Often, weeds have overtaken the yard, the grass is dead, and the home is in need of a new coat of paint.  The question that always comes up is “What can be done about this eyesore?”

  An association’s remedies are limited to the...

Written By Loura K. Sanchez | Friday, November 16, 2012

The U.S. Department of Housing and Urban Development (HUD) released its annual report to Congress on the financial condition of the Federal Housing Administration Mutual Mortgage Insurance Fund yesterday.  In a...

Written By Loura K. Sanchez | Friday, September 28, 2012

HUD has issued FAQ’s as a follow up to the recently issued ML 12-18 regarding temporary FHA condominium approval guidelines.  The temporary guidelines, are effective until August 31, 2014, unless...

Written By Loura K. Sanchez | Friday, September 14, 2012

As we reported yesterday, FHA released Mortgagee Letter 2012-18 on September 13, 2012.  A summary of the changes, that are most important to existing condominium associations, are discussed below.  Now is a good...

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