Community Associations Institute (CAI) has joined the Coalition for Sustainable Flood Insurance (CSFI) to take an active role in combating impending rate hikes on National Flood Insurance Program (NFIP) policies. Organizations supporting the CSFI range from regional economic groups to state-based trade associations representing lenders, Realtors, and insurance agents. By partnering with CSFI, CAI is
Community Associations Institute (CAI) has joined the Coalition for Sustainable Flood Insurance (CSFI) to take an active role in combating impending rate hikes on National Flood Insurance Program (NFIP) policies. Organizations supporting the CSFI range from regional economic groups to state-based trade associations representing lenders, Realtors, and insurance agents. By partnering with CSFI, CAI is
A Very Busy August Washington DC can become a sleepy town in August. Members of Congress are in their home states, the president goes on vacation, and the normal hustle and bustle of life in the nation’s capital eases up. This was not the case at CAI as members took full advantage of their federal
According to the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) will not accept or process most condominium approvals or renewals during a federal government shutdown. Unless the Congress and President Obama agree to a temporary spending measure by midnight on September 30th, many federal agencies and departments will cease
Jean Bestafka – Renaissance at Manchester Vice Chair, New Jersey Legislative Action Committee It has been an exceptionally quiet summer for CAI-NJ at the Statehouse in Trenton. The Manager Licensing bill is still pending a discussion and vote in the Senate Budget and Appropriations Committee, thankfully none of the proposed generator bills have been posted
On August 15th, Freddie Mac announced a new policy for payment of association assessments in States with association lien priority. Under the new policy, Freddie Mac is setting aside its prior 6 month limit on payment of association assessments, pre-foreclosure sale, in favor of a new reimbursement schedule. Mortgage servicers paying association assessments in priority
CAI members impacted by Hurricane Sandy and other Presidentially-declared natural disasters face high recovery costs as local governments are being denied Federal Emergency Management Agency (FEMA) reimbursement for debris removal and other disaster recovery expenses in community associations. Community associations−condominiums, homeowners’ associations, and cooperatives−are a growing form of housing and represent 1 in 5 homes
James Magid, CMCA, LSM, PCAM – FirstService Residential., AAMC Chair, CAI-NJ Legislative Action Committee New Jersey’s Supreme Court ruled recently that Governor Chris Christie lacked the authority to abolish the Council on Affordable Housing (“COAH”) under the Reorganization Act. According to a post on the State Street Wire, at issue is compliance with the Supreme
Community Associations Institute (CAI) is applauding a just-released Federal Housing Administration (FHA) statement that should provide relief to Americans trying to obtain FHA-insured mortgages to purchase condominiums. The FHA guidance allows condominium associations to qualify for FHA certification, thus giving buyers the opportunity to purchase homes in those communities. CAI had urged FHA to offer
Senators Introduce Bipartisan Legislation to Replace Fannie Mae, Freddie Mac Led by Senators Bob Corker (R-TN) and Mark Warner (D-VA), a bipartisan group of eight U.S. Senators has introduced legislation that if signed into law will make dramatic changes to the nation’s housing finance system. The “Housing Finance Reform and Taxpayer Protection Act of 2013” proposes to
