| | Mon, 10 Nov 2008 10:36:46 EST
The National Association of Realtors (NAR) recently called on the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Administration (FHFA) to reduce the owner-occupied ratio requirement for condominium complexes. In letters to HUD Secretary Steven C. Preston and James B. Lockhart, III, Director of FHFA, NAR President Dick Gaylord asked that the two agencies reduce the current requirement that 51 percent of individual units within a condo development be owner occupied for that unit to qualify for Freddie Mac, Fannie Mae, or Federal Housing Administration loans.
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| CNBC Videos 11/10/2008 7:03:13 AM Wall Street is watching Washington closely with a new President-elect and a soon-to-be-named Treasury Secretary, with Rob Nichols, Financial Services Forum |
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| CNBC Videos 11/10/2008 10:09:59 AM The U.S. government will give AIG a new bailout plan worth more than $150B, reports CNBC's David Faber |
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