Decision Reached on FHFA Transfer Fee Issue
After what has seemed like a lifetime of waiting, the Federal Housing Finance Agency (FHFA) has reached a decision regarding the proposed regulation on transfer fees. The ruling will not affect exisiting deed-based transfers fees. This is a huge win for homeowner associations, as the proposed regulation would have had a drastic impact on 49% of all community association housing. However, the recent ruling will not have an affect on condominiums seeking FHA approval, but this is a step in the right direction. Click here to read more about the ruling and how it affects the community association industry.