Chla is the only national group that represents independent mortgage banks, which come 84% of all mortgages. In the meantime, CAI represents the 7 million Americans who live in condominiums, cooperatives and homeowners associations.
“Chla welcomes the Trump administration to look at the taking of needs for housing to tackle challenges for homeowners and the affordability of housing,” said executive director Scott Olson in a statement.
“Because condominiums are usually more affordable than detached houses, there would be a simple but effective action to add to an emergency housing list to allow FHA to insure apartments in projects approved by Fannie and Freddie – but not by Fha.”
“CAI strongly supports the reciprocity between the US Department of Housing and Urban Development’s (HUD) Federal Housing Administration Condominium certification process and the companies sponsored by the government, Fannie Mae and Freddie Mac, “Cai said in a statement.
“Streamlining this approval process is a common step towards a greater efficiency of the government, reduced bureaucracy and extensive access to affordable homes for working families. CAI welcomes Trump administration to consider this critical efficiency that would support millions of current and future condominium-homeowners.”
Industry officials say that the move would limit a long -term gap in approvals, because many more condominium projects are deleted by Fannie and Freddie than by FHA.
Condominiums remain one of the most affordable access points for home ownership. Per 2024 Zillow Data, in the 25 largest metro areas in the country, the average apartment is 54% more affordable than a single -family home.
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