Attorney Charlie Perkins forwards the following update on the Federal Housing Finance Agency’s action against community associations:
By Dawn Bauman (6/2/16)
Led by Senator Elizabeth Warren (MA-D), the Massachusetts congressional delegation wrote to urge Federal Housing Finance Agency (FHFA) Director Melvin Watt to reconsider FHFA’s attack on state-level priority lien laws.
The Massachusetts congressional delegation wrote: “Given the widespread effect that FHFA’s new policy will have, we believe the agency should solicit and consider public comments before implementing it. Accordingly, we request that FHFA delay implementation of its new policy on state priority lien laws and set up a process for obtaining and reviewing public comments on the issue. FHFA should consider how its policy would advance each of its statutory purposes, including its obligation to ensure that ‘the operations and activities of each regulated entity foster liquid, efficient, competitive, and resilient national housing finance markets.”