MBA Applauds Finalized FHA Condo Rule

CONTACT
Rob Van Raaphorst
rvanraaphorst@mba.org
(202) 557-2799

WASHINGTON, D.C. (August 14, 2019) - Pete Mills, Senior Vice President for Residential Policy and Member Engagement at the Mortgage Bankers Association (MBA), released the following statement applauding the finalization of new Federal Housing Administration (FHA) condominium loan guidelines:

"The condominium market is a critical gateway to affordable homeownership, and MBA applauds the steps FHA has taken to increase borrowers' accessibility to quality housing. The new guidelines, many of which MBA advocated for, will create more financing options that will help first-time homebuyers and low-to-moderate income borrowers. It will also provide lenders with much-needed clarity to promote safe, sustainable, and affordable lending. MBA looks forward to continuing to work with HUD on policies and procedures that promote FHA's mission."