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Here’s what you missed this week:
Bipartisan House coalition protests lessened government role in condo financing A bipartisan group of 56 members of the House of Representatives has filed a protest regarding the lessened role of the federal government in the financing of condominium purchases. The Federal Housing Administration has set many restrictions on financing that have deprived would-be purchasers from selecting one of “the most affordable home ownership options for first-time buyers, small families, urban and older Americans,” said the letter, which was addressed to Department of Housing and Urban Development Secretary Julian Castro. Boston Herald (11/1)
N.J. state senator introduces HOA transparency bill New Jersey Senate Republican Leader Tom Kean has introduced legislation that would require more transparency from HOAs in the state. If the bill passes, the Association Homeowners Protection Act of 2015 would make it mandatory for HOAs in New Jersey to provide its members with certain key information: copies of current insurance policies within a timely manner, a 24-hour emergency phone number, the most up-to-date budget information and board member contact information. WKXW-FM (Trenton, N.J.) (10/27)
Report: Fewer borrowers with high credit scores are refinancing Fewer borrowers with high credit scores are refinancing their homes, according to a report from Black Knight Financial Services. However, the change is likely because of previous refinancing by such borrowers. Meanwhile, origination volumes for buyers with lower credit scores have remained mostly unchanged. HousingWire (11/2)