loading… The Secretary of State recently announced that they have added password protection for business owners and filers to safeguard against identity theft. When association’s file their annual reports online, filers now have the option to create their own password. As we previously discussed in our July 2010 blog, the state originally discovered a criminalGo to Article
Category: Legislative Miscellaneous
loading… What’s happening? A mortgage company has been telling lenders that, in order to meet FHA and VA lending requirements, Colorado community associations must waive their priority assessment lien rights (often called “super lien” rights) in order for units in their communities to obtain federally-insured mortgages. Altitude Community Law does not believe there is anyGo to Article
loading… “Back in the day” it was easy to get a loan if you had a credit score of 800, if you had a banking relationship, and had 20% down. In today’s world that might not be enough. As this complaint shows, lenders are scrutinizing condominium association finances and financial protections. FHA, Fannie Mae andGo to Article
loading… The one year waiver on proof of HO6 policies at closings on FHA loans will expire on April 28, 2011. Therefore, unless your condominium association maintains an “all-in” insurance policy, now is a great time to remind your owners that they must show proof of a current HO6 policy if they are refinancing orGo to Article
loading… 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 properties itGo to Article