Category: Compliance

There are currently 12 states in the U.S. that have enacted condominium or “Common Interest Community” laws that make conducting a periodic (usually every 5 years) reserve study a legal requirement for an association’s executive board. The 12 states are California, Colorado, Delaware, Florida, Hawaii, Maryland, Nevada, Oregon, Tennessee, Utah, Virginia, and Washington State. Several of

Deferred maintenance and under-funded reserves are two of the biggest worries facing HOA communities today. Fannie Mae apparently agrees. A recent article in the Boston Globe shed light on a confidential blacklist Fannie Mae keeps on condo developments that they deem too risky to underwrite due to deferred maintenance related issues. Fannie Mae and Freddie Mac support 70 percent of the mortgage