Items Tagged with 'Housing Opportunity Through Modernization Act'


  • FHA lowers owner-occupancy requirements for condos

    Changes part of Housing Opportunity through Modernization Act of 2016
    When President Obama signed the "Housing Opportunity Through Modernization Act of 2016" into law a few months ago, many celebrated because it changed the Federal Housing Administration’s rules for condominium financing, among other changes. Wednesday, the FHA delivered, lowering its owner-occupancy requirements on certain condo developments.
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  • Monday Morning Cup of Coffee: Condo legislation finally a law; Brexit impact on refi apps

    The HOA saga continues
    As one of his last housing accomplishments before he leaves office, President Obama signed H.R. 3700 into law on Friday, which will dramatically improve long-fought restrictions on Federal Housing Administration financing for condominiums. Meanwhile, 2.8 million borrowers should be thanking Brexit right now for their positive financial situation.
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  • Condo legislation passes in Senate, offers relief for homebuyers

    Headed to president's desk
    The Senate just unanimously passed a bill to help solve the affordability crisis. The condo bill passed the House back in February, and now just awaits President Obama's signature to become law. The National Association of Realtors lobbied heavily for the reform and says the new condo legislation will provide homebuyers with a more affordable option.
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