NEW FHA LENDING REGULATIONS FOR CONDO ASSOCIATIONS

Wednesday, May 19
5 - 7 p.m.
Educational Meeting

Embassy Suites Greenville
670 Verdae Boulevard
Greenville, SC  29607

Open to the Public

The Program

The Federal Housing Administration (FHA) has adopted new lending regulations for condominiums that are going to provide data gathering and record keeping challenges for associations, particularly with respect to owner and renter occupancy.  The new regulations are significantly more restrictive and may render some condo associations ineligible for buyers to secure FHA loans.  In a recessed economy where delinquencies are higher than normal, condo associations may struggle to meet the new requirements. 

Who Should Attend

• Condominium Owners
• Condominium Association Board of Directors
• Managers of Condominium Communities
• Real Estate Agents
• Insurance Agents
• Anyone involved in working with condominium communities

Why It is Important

FHA loans are becoming increasingly more popular due to easier qualifying credit standards and lower down payments.  It is estimated that 20% of home mortgages are FHA-backed and this means a a larger buyer pool for condominium communities.  If they do not qualify, sellers will begin putting the pressure on the association to take measures to get approved.  Under the new regulations the condo association must qualify in whole as a community before an individual can be deemed eligible.

Potential buyers, sellers and association leaders need to understand the new regulations and be diligent about the accuracy of the data being provided to FHA more now than ever.  Knowingly reporting false information is a serious criminal offense and can result in significant legal and financial penalties. 

Come learn what the new regulations require and how to ensure that any association you are involved with can be FHA qualified.

The Presenter

Our featured guest speaker is Alan DeTata with Community Association Banc. 

Registration Information

Pre-registration is required.

CAI Members - Managers/Staff/Volunteer Leaders:  $25                         
CAI Members - Business Providers/Vendors:  $35
Non-members - Managers/Staff/Volunteer Leaders/General Public:  $35
Non-members - Vendors:  $50

To register online, please click ONLINE.  You can register online even if you are paying at the door or mailing payment.  Please help us streamline our processes by registering online.

For flyer/registration form, please click, REGISTER.

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MANY THANKS TO PROGRAM SPONSORS