Tom Schild recently participated in the Federal Advocacy Summit sponsored by the Community Associations Institute (CAI) in Washington, D.C. Community association attorneys, managers and homeowners from around the country gathered to learn about federal legislative and regulatory issues with direct financial impact on condos, homeowner associations and housing co-operatives….and carry the message to Capitol Hill.
Among the hot topics was legislation to provide federal disaster relief assistance for the clean up and repair of community association common areas. This CAI legislative initiative was introduced in the House of Representatives at the end of October, 2015.
As part of the proposed Housing Opportunity through Modernization Act, Congress is also considering changes to the Federal Housing Administration (FHA) standards for condominium project approval to make it easier for condominium associations to obtain and maintain FHA-approval so condo owners and purchasers can get FHA-insured mortgages.
On the CAI hit list is legislation introduced in both the House and Senate which would require the Federal Communications Commission to invalidate private restrictive covenants in condos and HOAs which prohibit or interfere with amateur radio antennas.
On the regulatory front, CAI is opposed to the actions of the Federal Housing Finance Agency (FHFA) seeking to invalidate state laws which recognize a priory lien for condo and HOA assessments. FHFA is the government agency which now operates Fannie Mae and Freddie Mac.
With all seats in the House of Representatives and one-third of the Senate seats up for election in 2016, now is the perfect time for community association leaders and residents to let their congressional representatives know the impact these federal issues have on the financial stability of condominiums, homeowner associations and co-operatives.
POSTED BY: Thomas Schild Law Group, LLC
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