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.
Federal Home Loan Bank Act
The Federal Home Loan Bank Act contains information regarding the eligibility for a home loan and other relevant information.
Federal Housing Enterprises Financial Safety and Soundness Act of 1992
The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 amends the Federal Home Loan Bank Act to provide for financial safety and soundness of the Federal Home Loan Banks.
Housing and Economic Recovery Act of 2008
The Housing and Economic Recovery Act of 2008 established the Federal Housing Finance Agency. This act was enacted in response to the housing and mortgage crisis of 2008, and strengthened regulations on the government sponsored enterprises Fannie Mae and Freddie Mac.
Regulations, Notices, Public Comments and Input
Listed are all FHFA proposed rules, final rules, and notices published in the Federal Register, including those from predecessor agencies, OFHEO (1995 forward) and FHFB (2003 forward).
FOIA Reading Room – Advisory Bulletins
The Federal Housing Finance Agency Advisory Bulletins are staff documents through which the Office of Supervision provides guidance to the Federal Home Loan Banks regarding particular supervisory issues. Although an Advisory Bulletin does not have the force of a regulation or an order, it does reflect the position of the Office of Supervision on the particular issue.