Editor's note: This column has been updated to note that the Community Associations Institute has filed a formal legal challenge against FHA July 22.Is the Federal Housing Administration taking a back-door exit away from condos -- a key real estate segment in which it's recently built up market shares of 40 percent and higher in many urban areas? Could the agency be tightening its rules in order to cut loan volume in the months ahead, potentially putting housands of unit sellers, buyers, homeowners associations and realty agents in a mortgage-money squeeze? FHA adamantly denies that it's doing anything of the sort, and insists that new rules rolled out at the end of last month represent prudent responses to the serious risks the agency's insurance funds confront. But condo indust...
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