The National Association of Home Builders and the National Association of Realtors testified before the House Financial Services Committee’s Housing and Insurance Subcommittee in support of the Housing and Modernization Act of 2015.
The act has the potential to help streamline programs for low-income homebuyers and renters, and could ease FHA condominium financing policies. The act would change the condo recertification process and owner-occupancy requirements—currently the biggest obstacles to condo ownership through FHA-backed mortgages, according to the NAR.
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