​CAI is working to ensure that residents of community associations have access to fair and affordable mortgages through our engagement with the Federal Housing Finance Agency (FHFA). FHFA was established by Congress to oversee Fannie Mae, Freddie Mac and the Federal Home Loan Banks following the financial crisis of 2008.

One of FHFA’s first regulatory efforts was a proposal to prohibit Fannie Mae, Freddie Mac or any Federal Home Loan Banks from buying mortgages for properties that have deed provisions that require a transfer fee to be paid at the time of sale. Such transfer fees are commonly used by community associations to fund reserves and other operations in a community. Had the FHFA proposal been adopted, up to 11 million homes in community associations would be unable to qualify for most mortgage products.