A bill to amend the National Housing Act to prohibit Federal Housing Administration insurance of blanket mortgages on condominium projects, and Federal National Mortgage Association purchases of conventional condominium mortgages, where the developer retains or will retain a leasehold interest in the common areas and facilities of the project involved.

Summary

Revises the National Housing Act to prohibit Federal Housing Administration insurance of blanket mortgages on condominium projects, and Federal National Mortgage Association purchases of conventional condominium mortgages, where the developer, sponsor, or any other person has reserved the right (1) to lease to the unit owner any of the common areas serving the project, or (2) to accept leases from unit owners under which owners may be charged for the use of common areas.

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Timeline

1. 25 October 1977

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 25 October 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 October 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 25 October 1977

  Open at official source

Sponsors

• Rep. Frey, Lou, Jr. [R-FL-9] · R · Sponsor
• · hsba00 · Standing

Related records

• related to → A bill to amend the National Housing Act to prohibit Federal Housing Administration insurance of blanket mortgages on condominium projects, and Federal National Mortgage Association purchases of conventional condominium mortgages, where the developer retains or will retain a leasehold interest in the common areas and facilities of the project involved.