FHA to Issue New Condo Rules?

On May 27th, NAR 2016 First Vice President, Elizabeth Mendenhall, represented NAR at a roundtable discussion in Missouri. The roundtable was presented by Congressman Luetkemeyer (R-MO) and featured HUD Secretary Julian Castro. Mendenhall brought up concerns with FHA’s condominium rules. Secretary Castro responded that FHA is actively working on a new condo rule, and specifically mentioned the owner/occupancy ratio as one of the issues being addressed. Longmont Association of REALTORS Chair Ed Regel was told the same thing by a FHA official during a White House briefing earlier this year.

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