H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700.
This legislation provides significant benefits to taxpayers, home buyers and the real estate market by:
- Removing a burdensome and expensive FHA Condo approval process
- Reducing FHA restrictions on the number of condos available to home buyers
- Permanently streamlining Rural Housing Service loan processing