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  • FHA Proposed Condo Rule

    On September 27, 2016, the Federal Housing Administration (FHA) announced a proposed rule concerning single-family condominium project approval. The proposed changes include:

    Minimum Owner-Occupancy Requirements

    • FHA is asking for comment on an acceptable minimum percentage for owner-occupied condominiums between 25 and 75 percent.
    • FHA intends to establish the specific percent by notice prior to October 27th, 2016 in order to comply with directives of HR 3700, Housing Opportunity through Modernization Act of 2016, or the percentage will be set to 35... Read More
  • NAR Sends Letter on Energy Codes

    NAR sent a letter to members of Congress this week, urging them to move forward with legislation which would address several national energy challenges, including energy efficient building codes.  

    H.R. 8 includes language that would encourage meaningful energy savings for buildings by ensuring that new model building energy codes are achievable, technology-neutral and cost-effective.  The “Blackburn/Schrader” provision also increases transparency, requiring the Department of Energy (DOE) to publish all proposals/analysis, and strengthens DOE’s role as a... Read More

  • ASB September 2016 Q&As

    The Appraisal Standards Board has issued the September Q&As for the 2016-17 edition of Uniform Standards of Professional Appraisal Practice. The Q&As address using drones in appraisal inspections and Restricted Appraisal Reports concerning multiple parties. The two main points made are: 

    1. Use of a drone does NOT constitute a personal inspection if the appraiser is not visiting the property at the same time.
    2. Multiple parties acting as co-clients can engage an appraiser and each view a Restricted Appraisal Report.

    ... Read More

  • CAP Report on Rural Housing

    The Center for American Progress (CAP) released a report "Opportunities for Promoting Credit for Affordable Housing in Rural America," as follow-up to a joint White House and U.S.. Department of Agriculture convening facilitated by CAP and involving advocates, academics and other stakeholders, including the National Association of REALTORS®. 

    The report discusses potential ways in which to improve access to credit for rural housing including:

    • Facilitating small loan lending through partnerships with Ginnie Mae and the federal home loan banks.... Read More
  • FHA August 2016 FAQs

    The Federal Housing Administration (FHA) recently published the August 2016 - HUD Handbook 4000.1 Frequently Asked Questions Update (FAQs).  The FAQs cover a variety of topics including how to treat income earned by borrowers from state legalized marijuana, unreimbursed business expenses, repossessions and eligibility for borrowers with limited credit histories, among others.

    August 2016 - HUD Handbook 4000.1 Frequently Asked Questions Update

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