The Judiciary Committee will not be hearing testimony today regarding SB 11-122, as previously blogged about on February 4, 2011. At this time, a new date has not been scheduled for the hearing. We will keep you posted on the next steps in the process and what you and your community members canGo to Blog
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Last week the mortgage serving unit of Bank of America filed a lawsuit in Nevada against dozens of homeowners’ associations over fees the associations charged to Bank of America after certain homes went into foreclosure. The suit claims that while Bank of America tendered payment of the 9 month super lien on propertiesGo to Blog
The Federal Housing Finance Agency (“FHFA”) recently changed its mind on how Private Transfer Fees (PTFs) should be regulated. A PTF is a deed-based fee that requires a percentage of a home’s sale price to be paid every time the property is sold. Previously, the FHFA proposed a rule that would have restrictedGo to Blog
HB11-1107 was introduced today in the Colorado House of Representatives. This bill, as introduced, is not favorable to associations. The bill is an attempt to amend and clarify the rights of associations as they relate to super liens. The bill allegedly brings certainty to the calculation of associations’ super liens and how theyGo to Blog
HB11-1110, was amended yesterday in Committee to specifically exclude associations and other entitles from the definition of Residential Nonprofit Corporation. This is a positive move which is supported by Altitude Community Law. The bill has now been recommended to the full House for consideration. We will keep you posted if this exclusion isGo to Blog