2011-02-06 — prnewswire.com
A national association that advocates on behalf of more than 300,000 U.S. community and condominium associations is praising the Federal Housing Finance Administration (FHFA) for revising a proposed regulation that could have prevented potential homebuyers from securing mortgages for as many as 11 million U.S. homes.
Community Associations Institute (CAI) lobbied the FHFA to modify its initial proposal, which would have prevented Fannie Mae, Freddie Mac and other federal home loan banks from purchasing mortgages for homes in communities with deed-based transfer fees.
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