Kenneth R. Harney - FHFA's proposed ban on private transfer fees could cost homeowners: "Andrew Fortin, vice president of government affairs for the 30,000-member Community Associations Institute, which represents homeowners and association managers nationwide, said that banning investments in mortgages on properties with transfer fees payable to associations 'is potentially a big problem.' Among other negatives, it could force associations to increase annual assessments on individual homeowners.
Fortin said his group 'shares the concerns of FHFA about programs that create neo-feudal arrangements' with outside investors, but believes the agency needs to better distinguish between profit-motivated transfer fees and those that benefit public interest and nonprofit organizations."
Thanks to Fred Pilot for the link. CAI seems to want to protect HOAs power to assess transfer fees. Fred predicted they would take that position, by the way.