Blog post by David Swedelson, Partner, SwedelsonGottlieb
As we all know, the Great Recession has changed the way we live and do business. Getting a home loan is not easy these days, and the federal government is instituting some pretty major changes to the mortgage finance system. This is complicated by the fact that regulators and legislators do not really understand community associations.
Because the decisions that Congress and federal agencies make now will impact how or if owners will be able to get loans, CAI has developed Mortgage Matters, “a comprehensive response to mortgage challenges at the federal level.” CAI states that “[t]he common thread for Mortgage Matters is to ensure that potential homebuyers have access to affordable mortgage products and that the criteria used to determine eligibility for loans in community associations are realistic measures of an association’s financial health.”
CAI wants Mortgage Matters to be a hub for information on how the rules governing mortgages are changing, what CAI is doing to address these issues, informative webinars, etc.
Follow this link for more information about CAI’s Mortgage Matters Program.