NAR President On Condominium Regulations

In October NAR 2015 President Chris Polychron testified before the Housing and Insurance Subcommittee of the House Financial Services Committee.  The hearing focused on H.R. 3700, the “Housing Opportunity Through Modernization Act of 2015,” which NAR supports.

This legislation includes a number of provisions to ease the sale and purchase of condominiums with FHA mortgage insurance. Polychron spoke about the benefits of easing the recertification process; reducing the owner/occupancy ratio; streamlining the process of approval for buildings with more than 25 percent commercial space; and conforming FHA’s rules on private transfer fees to FHFA.  There appeared to be general support for the bill, and its provisions.  NAR is urging the committee to quickly consider this legislation and will continue to work for its passage.

This entry was posted in Gov't Affairs, Govt - Federal, Govt - Nation, Govt - National Assoc. of Realtors® (NAR) and tagged , , , , , , , , . Bookmark the permalink.

One Response to NAR President On Condominium Regulations

  1. Rick Pohl says:

    Reblogged this on Meridian Villa News and commented:
    Legislation gains support to ease the sale and purchase of condominiums with FHA mortgage insurance.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s