Thomas M. Skiba, CAE, CAI’s Chief Executive Officer issued a statement today at the House Financial Services Committee, Subcommittee on Housing and Insurance hearing. The hearing entitled “The Future of Housing in America— Federal Housing Reforms that Create Housing Opportunity” was held to discuss the merits of H.R. 3700.
The comments are specific to the changes to the Federal Housing Administration’s (FHA) condominium certification project regulations that will create a longer certification period and common sense approaches to reducing the burden and expenses related to recertification.
“…CAI believes Title III of H.R. 3700 is a constructive step toward easing some pressure points that have prevented condominiums from seeking or qualifying for FHA project approval. CAI members appreciate the committee’s attention to FHA’s condominium unit mortgage insurance program. Additional oversight of this program will improve FHA processes and reverse FHA’s flight from the condominium market…” – Read the full statement here.
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