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Lender Questionnaires and Management Contracts

Virginia Condo & HOA Law Blog

In an effort to keep you up to date on changes in the law and regulations, in this edition we want to update you on lender questionnaires for condominium communities and a new law regarding the termination of association management contracts. Most agreements contain automatic renewal clauses.

Florida 105
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Fannie Mae and Freddie Mac: New lender requirements take effect

Ungrated

Project standards are specific requirements designed to verify that each common interest community with more than five attached units qualifies for mortgage lending availability. In addition, based on the information a community provides, it will likely be deemed ineligible if: The project needs critical repairs.

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Strategic solutions: CAI offers public policy recommendations for high-rise safety

Ungrated

Structural integrity in high-rise communities has been at the forefront of discussion for CAI after the tragic partial collapse of Champlain Tower South condominium in Surfside, Fla., CAI recommends statutorily mandating reserve studies and funding for all community associations. in late June. Reserve Studies and Reserve Funding.

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Getting Your Utah HOA Community Ready for the Spring Thaw

HOA Strategies

But when the temperatures finally creep up, Homeowners Associations (HOAs) need to start thinking about all the steps they need to take to get their communities ready for spring. Any landscaping and community maintenance your HOA has planned for the coming spring cost money, the amount budgeted for seasonal projects helps set priorities.

Utah 52
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New Fannie Mae Changes and Their Impact on Utah Community Associations

HOA Strategies

Fannie Mae, the mortgage loan guarantor, has recently changed its policy on how it treats Utah community association properties. In addition, condominium or cooperative projects that do not pass local regulatory inspections or recertifications are not eligible for Fannie Mae financing.

Utah 52
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HOA Reserve Expenses: What Gets Funded with Reserves

Association Reserves

The 3 Keys: Planning, Maintenance, & Inspections Fundamentally, reserves are about reserve planning – your plan to have the right cash set aside. For the HOA board members striving to master the intricacies of reserve expenses, let’s dive into the guiding forces behind it. Talk to a Reserve Study Specialist!

Cost 52
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13 Best Community Association Management Software in 2023

MemberClicks

Are you in search of the perfect tool to manage your homeowner’s association (HOA), condominium association, or residential community more efficiently? Welcome to the world of community association management software – your answer to simplified, effective community management in 2023.