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New Mortgage and FHA Condo Rules: Upcoming Challenges and Member Engagement in August

As the real estate market faces new FHA condo regulations and mortgage rules, we are mobilizing our members for congressional visits this August. Key issues include Qualified Residential Mortgages (QRM) and stringent FHA condo insurance requirements. These changes demand a minimum 20% down payment with no financing for closing costs or commissions, affecting access for many homebuyers. Join us in addressing these challenges through resources and webinars available at CAI Mortgage Matters. Together, we can make our voices heard!

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New Mortgage and FHA Condo Rules: Upcoming Challenges and Member Engagement in August

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  1. G&PA August Outreach

  2. The Challenge: The rules that determine: New mortgage rules New FHA Condo rules Will impact housing markets and community associations So we are engaging our members for congressional visits in August

  3. Issues • QMR – Qualified Residential Mortgages • Mandatory 20% down payments, no financing closing costs, no financing commissions and no mortgage is 30 days late on any payment in last 3 years. (Only 30% of current buyers) • FHA Condo Insurance – • New regulations impose hard to meet requirements, FHA not listening to industry concerns

  4. Target States

  5. Resources • CAI Mortgage Matters: • www.caimortgagematters.org • Articles for CEDs • FAQs on key issues (FHA, FHFA, QRM) • Free webinars on same.

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