Housing.

(1) The Davis-Stirling Common Interest Development Act regulates common interest developments and requires the governing association of a common interest development to, among other things, distribute to its members an annual budget report and the Assessment and Reserve Funding Disclosure Summary form. The act requires the form to contain certain information and disclosures regarding the association's assessments and reserves, including a statement that the major components, as defined, are included in the association's reserve study and calculations. This bill would make technical changes to the form. (2) The Housing Accountability Act, among other things, prohibits a local agency from disapproving a housing development project unless the local agency makes specified written findings. This bill would update cross-references and make technical changes to the act. (3) Existing law requires the California Housing Finance Agency to administer the California Homebuyer's Downpayment Assistance Program for the purpose of assisting first-time low- and moderate-income homebuyers by utilizing existing mortgage financing. Existing law authorizes a borrower to refinance a mortgage under specified circumstances. Existing law authorizes the agency, in its discretion, to permit a downpayment assistance loan to be subordinated to refinancing if it determines that certain criteria have been met. Existing law authorizes the agency to permit subordination on those terms and conditions as it determines are reasonable. Existing law requires the repayment of the home purchase assistance amount at the end of the term, upon the sale of the home, or upon refinancing, unless a showing of hardship is established, as specified. This bill would instead provide that the amount of home purchase assistance would not be due upon the sale of the home if the first mortgage loan is insured by the Federal Housing Administration (FHA) or if the first mortgage loan is, or has been, transferred to the FHA, or if the requirement is otherwise contrary to the regulations of the United States Department of Housing and Urban Development governing FHA insured first mortgage loans.