Nation: HUD Proposes Condo Rule

When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, the Department of Housing and Urban Development was given notice that they had 90 days to weigh in on regulations related to Federal Housing Administration financing for condominiums before changes automatically went into effect. These included rules regarding owner-occupancyContinue reading “Nation: HUD Proposes Condo Rule”

Nation: HUD Extends Temporary Guidance on Condos

On August 24 HUD extended its existing temporary guidance on condos, without the changes brought about in HR 3700 (Housing Opportunity Through Modernization Act). HUD continues to work on the regulatory guidance to implement the new law, but the existing guidance was set to expire. In notice 2016-13, HUD extends the existing guidance until theContinue reading “Nation: HUD Extends Temporary Guidance on Condos”

Nation: Senate Passes Important Housing Bill

On July 14 the US Senate passed HR 3700, the “Housing Opportunity Through Modernization Act,” by unanimous consent.  The legislation is expected to be signed by President Obama. The bill was the subject of a recent Call for Action by NAR. Passage of HR 3700 will ease FHA condo rules, make transfer fee rules consistentContinue reading “Nation: Senate Passes Important Housing Bill”

Nation: Please Participate in the Call for Action

NAR launched a call for action regarding HR 37000, the Housing Opportunity through Modernization Act last week. Please help us reach our goal, which is a participation rate of 20 percent. So far, none of the associations in Northern Colorado have met the goal. Click here to respond: https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&page=UserAction&id=4355&autologin=true&utm_source=CO&utm_medium=website&utm_campaign=hr3700-2016&s_src=website&s_subsrc=CO