OC-Register explains Reverse Mortgage Reform

Reverse mortgage reforms create stampede among would-be borrowers By JEFF COLLINS | JeffCollins@scng.com | Orange County Register PUBLISHED: September 25, 2017 at 10:28 am | UPDATED: September 25, 2017 at 4:27 pm A rules change that will raise fees and reduce loan amounts for reverse mortgages apparently has created a nationwide rush to get new.. read more →

28 Sep 2017
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FHA TO LOWER OWNER-OCCUPANCY REQUIREMENT FOR CERTAIN CONDOMINIUM DEVELOPMENTS

FHA TO LOWER OWNER-OCCUPANCY REQUIREMENT FOR CERTAIN CONDOMINIUM DEVELOPMENTS WASHINGTON – The Federal Housing Administration (FHA) today announced that, under certain circumstances, it will lower its required owner-occupancy standard for approved condominium developments effective immediately. FHA currently requires that approved condominium developments have a minimum of 50 percent of the units occupied by owners. However,.. read more →

26 Oct 2016
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New HUD Mortagage Letter Impact

View this article on CAI’s Website – On November 13, 2015, HUD released a new Mortgagee Letter (ML) in response to pressure from industry professionals and trade groups. The new ML has revised the current FHA Recertification process, redefined owner-occupants, and clarified insurance requirements. For the purpose of this article I will go through the changes and how.. read more →

18 Dec 2015
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Proposed Housing Bill HR3700 – The Housing Opportunity Through Modernization act of 2015

Thomas M. Skiba, CAE Chief Executive Officer Community Associations Institute Statement for the Record Hearing Entitled: ‘‘The Future of Housing in America—– Federal Housing Reforms that Create Housing Opportunity’’ House Financial Services Committee, Subcommittee on Housing and Insurance October 21, 2015 On behalf of the more than 66 million Americans who live in community associations—-.. read more →

21 Oct 2015
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California Bill AB 596 is about to pass – How to meet the criteria in your Budget Disclosure

California Bill AB 596 has passed through both the Assembly and Senate and is currently awaiting signature.  This bill will amend Civil Code 5300 relating to Common Interest Developments and Budget Disclosures: What does this mean for California Community Managers, Condominium Associations, and Boards of Directors? As of July 1, 2016 all California budgets disclosures must include.. read more →

28 Jul 2015
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02 Apr 2015
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Tips for Getting Your Community FHA Approved

http://caiclac.wordpress.com/2014/03/17/tips-for-getting-your-community-fha-approved/ MARCH 17, 2014 Starting the FHA Approval Process: Starting the FHA Approval process is not difficult, but it does differ depending on your role in the community. Property Managers/Board Members: The first step is to have the community pre-qualified. A professional submission service will be able to assess the eligibility of your community prior.. read more →

18 Mar 2014
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VA Approval for Condominiums in 2016

 Looking for VA Approval for a Condominium?   Click Here for VA Approval! VA Approvals Don’t Expire. As of today (5/4/2016) if your Condominium Project was VA approved in the past, it is still approved for VA Loans.  There have been rumors that they will clear their system and start over again – similar to.. read more →

04 Dec 2012
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CAI’s In Focus Magazine Article – “About FHA Approval” by FHA Review’s Natalie Stewart

View the full magazine here. In 2010, the FHA made significant changes to the way they approach insuring mortgages for loans made to purchase Condominiums.  Prior to this date, Condominium Communities were given an “FHA Approval” status that never expired. If a complex was not approved, lenders were able to “Spot Approve” single units within.. read more →

05 Nov 2012
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New FHA Guidelines Released – Sept 13, 2012 Mortgagee Letter 2012-18

FHA Releases Condo Update – Areas of Concern for FHA Condo Approval Addressed ML Letter 2012-18 Read full Mortgagee Letter: 2012-18  issued September 13, 2012 by HUD and the FHA The Federal Housing Administration released a long-awaited revision of its condominium project approval guidelines on September 13th 2012 The revisions to FHA condominium guidelines are contained in Mortgagee.. read more →

13 Sep 2012
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