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G&PA August Outreach

G&PA August Outreach. The Challenge:. The rules that determine: New mortgage rules New FHA Condo rules Will impact housing markets and community associations So we are engaging our members for congressional visits in August. Issues. QMR – Qualified Residential Mortgages

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G&PA August Outreach

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  1. G&PA August Outreach

  2. The Challenge: The rules that determine: New mortgage rules New FHA Condo rules Will impact housing markets and community associations So we are engaging our members for congressional visits in August

  3. Issues • QMR – Qualified Residential Mortgages • Mandatory 20% down payments, no financing closing costs, no financing commissions and no mortgage is 30 days late on any payment in last 3 years. (Only 30% of current buyers) • FHA Condo Insurance – • New regulations impose hard to meet requirements, FHA not listening to industry concerns

  4. Target States

  5. Resources • CAI Mortgage Matters: • www.caimortgagematters.org • Articles for CEDs • FAQs on key issues (FHA, FHFA, QRM) • Free webinars on same.

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