Tags: Fannie Mae

Underfunded reserves are one of the most critical issues facing condominium associations today. While there are a million and one reasons why this problem is so pervasive across the country, ultimately the root cause comes back to a condo board’s overly optimistic or poorly informed view of what it costs to maintain the common elements of their community. Case in point. When talking to other

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