Washington Report

Advocacy Updates from Washington D.C.

FHA Flipping Waiver Expires

On December 10, 2014, the Federal Housing Administration (FHA) announced that it will not extend the temporary waiver of FHA’s regulation that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition.  The waiver expires on December 31, 2014.  NAR sent a letter to Commissioner Galante on October 3, 2014 urging FHA to extend the waiver because of the positive effects of the waiver where property rehabilitation and resale of these homes has increased the availability of safe and affordable homes.  In response to a recent a negative HUD Inspector General report, however, FHA decided not to extend the waiver. 

NAR Letter to FHA

FHA Notice on Waiver Expiration

HUD Inspector General Report

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Advertisement