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Bankers and committee back cautious study of common‑interest community rules amid mortgage and insurance concerns
Summary
Lenders and committee members supported a study of common‑interest community (CIC) rules in S.328, warning that broader language could void deed restrictions, raise insurance premiums and make mortgages harder to sell on the secondary market; the committee favored a measured, evidence‑based approach.
Chris Dia, president of the Vermont Bankers Association, told the committee he supports the common‑interest community study in S.328 but cautioned that earlier, broader versions of the bill could have unintended market consequences.
Dia and other testifiers said language that would void…
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