Call For Speakers for MBA Condominium Finance Workshop
The Mortgage Bankers Association announces a Call for Speakers for its upcoming Condominium Finance Workshop: Challenges and Opportunities in Condo Lending. Submission deadline is Friday, Dec. 18.
The MBA Condominium Finance Workshop: Challenges and Opportunities in Condo Lending will take place on Thursday, Mar. 10 in Crystal City, Va., just outside Washington, D.C. (https://www.mba.org/store/events/conferences-and-meetings/challenges-and-opportunities-in-condo-lending).
Condominium lending–financing of individual housing units with shared services and structures–is more complex than for single-family detached housing. Since the advent of condos in the U.S. in the 1960s, government agencies, the government-sponsored enterprises and FHA have played an important role in standardizing the lending process and insuring condo mortgages. Following the Great Recession, many of these standards tightened and only recently have some been relaxed.
Despite recent declines in the homeownership rate, MBA believes that demand for condominium housing will increase over the next decade as the U.S. witnesses an increase of 14-16 million additional households. Growth will be driven by those over the age of 60 on one hand, and by households between ages 18-44 on the other. While demand for all types of housing will be increasing, condominium ownership can play a key role in providing first time home buying opportunities and affordable alternatives to single-family ownership in cities, as well as down-sizing opportunities for aging Baby Boomers. Can the supply of condo finance keep pace? We will hear from lending and legal experts as well as key individuals from FHA and the GSEs.
Issues the workshop will cover:
–Market outlook for condo lending
–Latest guidance from Fannie Mae, Freddie Mac and FHA on condo lending parameters
–Lending on non-warrantable condos –Servicing issues for condos
–Lending for condo construction and conversion
If you would like to present at this important workshop, individually or as part of a panel, submit your proposal to Lynn Fisher, MBA vice president of research and economics at lfisher@mba.org or 202/557-2739. Submission deadline if Friday, Dec. 18.
