FHA Follows GSEs by Tightening Condo Rules; Groups Say Strict Regulations Will Hurt Market
October 22, 2009
The FHA this week announced a two-week delay in controversial guidance that tightens underwriting requirements for insuring condominium mortgages. But with Fannie Mae and Freddie Mac already having made condo financing more expensive, industry participants are warning that the condo market could take a beating. The Department of Housing and Urban Development announced the...