A proposal to ban federal lenders from purchasing loans in co-ops that use flip tax fees or condos with deed-based transfer fees has housing community leaders worried the ruling would lead to diminished operating budgets and severely d…
Tag: Fannie Mae
Every condo and co-op has its own set of governing documents by which building administrators direct their community's day-to-day business. Bylaws, rules and regulations, and precedent-setting legal cases help keep boards within the le…
Tighter lending requirements for Federal Housing Administration (FHA)-backed mortgages for condos have put financial and administrative pressure on condos all over the country at a time when many are ill prepared for any new challenges…
Not everybody on a co-op or condo's board is an accountant (or can even balance their own checkbook, for that matter.) Handling the money for an entire building is a big responsibility, however, and residents rely upon their board to ma…
All for one and one for all. We always knew that buying a unit in a condominium project meant that the value of our property depended in good part on the likeminded conscientiousness of our neighbors. Where owners live, vote and fund th…
Since its launch in 1987, The Cooperator's annual Co-op & Condo Expo has become a fixture on the business calendar of vendors, service providers, board members, building staff members and residents all over the tri-state area. Each year…
As of November 2, new lending guidelines from HUD mean that FHA loan requirements will be significantly tightened for condominium sales. The new requirements could have a profoundly negative effect on the ability to sell or bu…
Even in the best of economic times, preparing a co-op or condo’s annual budget can be a tiresome task, fraught with uncertainty, estimations and shifting numbers. Factor in one of the most harrowing economic downturns in a century, with…
Fresh from hoisting up the banking and automobile sectors, a newly muscular Uncle Sam is now turning his attention to putting the skids on the real estate meltdown. The Obama Administration earlier this year rolled out two maj…
In the last two years, Fannie Mae has amended it’s guidelines for selling and serving mortgages on condominiums, cooperatives, and planned unit developments three times. Why should service providers, cooperative corporations and communi…