From the category archives:

Fannie Mae

Massachusetts Real Estate Law Year In Review: Top Posts Of 2009 And Predictions For 2010

by Richard D. Vetstein, Esq. December 28, 2009 Closings

In the spirit of the New Year, let’s look back at the top legal issues of the past year and peer into the crystal ball for a glimpse at 2010.
Top 5 Posts For 2009
#1. The Catch-22 Impact of New Fannie Mae Condominium Regulations. In January, Fannie Mae was the first government agency to drop a [...]

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Final (Hopefully!) Revised FHA Condominium Lending Guidelines Issued

by Richard D. Vetstein, Esq. November 21, 2009 Condominium Law

After several revisions and delays, the Federal Housing Administration (FHA) has finally issued major changes to its revised guidelines on mortgage insurance requirements for condominium projects. FHA first proposed the revisions back in June (under Mortgagee Letter 2009-19). The new guidelines are effective December 7, 2009; however, some of the requirements are phased in through January 31, 2010.
There [...]

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Are You Ready For Some RESPA Reform? Part I, An Overview Of The New Regulations

by Richard D. Vetstein, Esq. November 17, 2009 Closings

New, sweeping changes regulating how lenders, closing attorneys and title companies disclose loan and closing costs are set to go into effect January 1, 2010. The new regulations are part of a long awaited reform to the 30 year old Real Estate Settlement Practices Act known as RESPA aimed at providing greater transparency and fostering [...]

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The Catch-22 Impact Of New Fannie Mae (FNMA) Condominium Lending Regulations

by Richard D. Vetstein, Esq. July 1, 2009 Condominium Law

Recent Fannie Mae (FNMA) condominium lending regulations are beginning to live up to the hype as having an onerous impact on condominium sales and project development. The changes, made in January, were part of an effort by mortgage giants Fannie Mae and Freddie Mac to limit risky lending in a segment of the housing market [...]

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New Stricter FHA Condominium Lending Regulations and Guidelines Sure To Slow Financing And Chill Sales

by Richard D. Vetstein, Esq. October 6, 2009 Condominium Law

Update: 11/10/09–THESE RULES HAVE CHANGED. Please see my post: FHA Issues Final Revised Guidelines–Spot Approvals Extended Until Feb. 1, 2010
Update: 10/26/09–The FHA Has Delayed Implementation Of New Rules Until December 7, 2009

Under revised guidelines which were to be effective October 1, 2009 but now delayed until November 2, 2009, the Federal Housing Administration (FHA) [...]

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Community Associations Institute Weighs In Against New FHA and Fannie Mae Condominium Regulations

by Richard D. Vetstein, Esq. October 5, 2009 Condominium Law

IMPORTANT UPDATE: 11/16/09: FHA Issues Final Revised Condominium Lending Guidelines
As a follow up to my post on the new FHA condominium regulations, I received word from my friend Seth Wills at XLT Property Management, that the Community Associations Institute — the leading condominium and homeowner’s association trade group — recently sent a bulletin to its [...]

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