FHA Extends Temporary Approval Provisions for Condominium Approved Process

The Federal Housing Administration (FHA) released the long-awaited
extension of its condominium project approval guidelines on August 29. The
two-year extension is contained in Mortgagee Letter 2014-17 and is set to
expire on August 31, 2016. To read ML 2014-17, please click
here.

As expected, the extension was issued to allow time for completion of the
condominium rule-making process and there are no changes made to the policy that
was released in Mortgagee Letter 2012-18. Community Associations Institute
(CAI) views FHA’s extension as favorable as it allows more time to develop
approval guidelines that are in the best interests of all stakeholders. To read
ML 2012-18, please click
here.

CAI looks forward to continuing its work with FHA on the condominium project
approval guidelines as well as the development of the Single Family Housing
Policy Handbook.

To view CAI’s current action item in opposition to H.R. 4969 – the Amateur
Radio Parity Act of 2014, click
here and help to protect your association’s rules and standards.

CAI Government Affairs represents the interests
of the 65 million people living and working in America’s community associations
on legislative and regulatory issues at the local, state, and federal level of
government.