SCAORCard Issue #002 – From DAR

In their latest news blast, DAR Share a few key insights about news that YOU need to know.  Check it out!

  • The Department of Housing and Urban Development (HUD) issued a mortgage letter making changes to the Federal Housing Administration’s (FHA) owner-occupancy requirement for condominiums in accordance with H.R. 3700, the Housing Opportunity Through Modernization Act of 2016 (HOTMA).
  • Fannie Mae announced expansion of its HomeReady program that includes 3 percent down payment loans.
  • The DUCIOA flowchart was changed on July 1, 2016, and is useful when determining if a resale certificate is needed when listing or buying a home. View the chart here.
  • Upfront and annual guarantee fees from the USDA’s Rural Development program have been reduced.
  • Get onsite news and links to live social media coverage at next week’s NAR Conference and Expo here


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Sussex County Association of Realtors

Phone: 302-855-2300 | Fax: 302-855-2319

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