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Flipping Out

The public comment period is coming to an end for proposed Federal Housing Finance Agency regulation that would ban deed-based transfer fees. So? Brick Underground explains that we should care because deed-based transfer fees are also known as flip taxes, and if the rule passes, banks won't be able to make loans under $730,000 in co-op or condo buildings with flip taxes. This could spell trouble for a Stuy Town conversion, too. But the FHFA is open to angry e-mails until Friday. [BrickU]