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
James Magid, CMCA, LSM, PCAM – Wentworth Property Management Corp., AAMC Chair, CAI-NJ Legislative Action Committee While the Statehouse was relatively quiet leading up to the primary election on June 4th, the Chapter took advantage of the down time to meet with leadership at the Department of Community Affairs. On May 14, 2013, our lobbyists
On June 18, 2013, Community Associations Institute (CAI) submitted a report to the U.S. House Financial Services Committee Subcommittee on Financial Institutions & Consumer Credit called, “Examining How the Dodd-Frank Act Hampers Home Ownership.” The Subcommittee’s hearing focused on the Consumer Financial Protection Bureau’s Qualified Mortgage (QM) rule, which implements key mortgage lending reforms required
FHA Rules Common Condo Leasing Restriction Violates National Housing Act CAI has learned the Federal Housing Administration (FHA) has determined a common restriction on transient leasing in condominium association CC&Rs violates a key section of the National Housing Act. To be eligible for FHA approval and recertification, FHA is advising condominium associations to amend CC&Rs
Jean Bestafka – Renaissance at Manchester Vice Chair, New Jersey Legislative Action Committee CAI has an “Amicus curiae” or “Friend of the Court” Program through which we assist in court cases involving significant community association issues. Amicus curiae briefs allow CAI to educate a court about important legal issues in cases related directly to the
James Magid, CMCA, LSM, PCAM – Wentworth Property Management Corp., AAMC Chair, CAI-NJ Legislative Action Committee The New Jersey chapter continues to coordinate efforts to expand FEMA assistance to common interest communities that most recently suffered catastrophic hardship from Super Storm Sandy. Dawn Bauman, Senior Vice President of Government & Public Affairs for CAI National, and
NEW DEVELOPMENT REGARDING FURNACE EFFICIENCY STANDARDS Ronald L. Perl, Esq., CCAL, Partner, Hill Wallack LLP, Chair CAI Federal Legislative Action Committee You will recall that we have been reporting on a settlement of a lawsuit challenging the U.S. Department of Energy’s new furnace efficiency standards. There is an agreement to scrap the standards, which would
James Magid, CMCA, LSM, PCAM – Wentworth Property Management Corp., AAMC Chair, CAI-NJ Legislative Action Committee The New Jersey chapter had the opportunity to work with the Government Relations team at CAI National and the Federal Legislative Action Committee to petition the federal legislature and top leaders at the U.S. Department of Homeland Security and
CAI members impacted by Hurricane Sandy are facing high recovery costs as local governments are being denied Federal Emergency Management Agency (FEMA) reimbursement for debris removal and other disaster recovery expenses. Congress must be made aware that additional resources and flexibility for FEMA to fully respond to the aftermath of natural disasters must be made
James Magid, CMCA, LSM, PCAM – Wentworth Property Management Corp., AAMC Chair, CAI-NJ Legislative Action Committee February is shaping up to be a busy month for the New Jersey chapter at the Statehouse. Early in the month, Senator Jeff Van Drew, sponsor of the Manager Licensing legislation, will be introducing the Senate version of the
