Some believe that the best way for associations to improve property values and sales activity is to certify their projects for FHA loan guarantees. Others argue that it brings in buyers with less of a stake in the purchase who may be more inclined to become delinquent in their payment of assessments to the association.

No Duty to Certify. There is no statute requiring boards to fill out lender prepared disclosure forms for FHA financing. Doing so is a business decision for boards of directors to make. Management companies are agents of the board. As such, it is not their decision whether the association seeks or cooperates with FHA certification.