Tag Archives: Homeowner Association

Despite the economic downturn, a study conducted by Coldwell Banker and psychotherapist Dr. Robi Ludwig found that even though people's feelings about homeownership have changed, owning a home is still very much a goal for many Americans. One of the findings stated while 79 percent of U.S. adults indicated the recession has caused society to rethink the concept of homeownership, 91 percent agreed owning a home is part of the American Dream. Another issue being re-evaluated is what homeowners want versus what they really need. According to the survey, 90 percent of U.S. adults agree some people purchased more expensive homes than they should have before the recession.

Sperlonga Data and Analytics announced it has registered the 225,000th homeowners association (HOA) in its database. Based in Arlington, Virginia, Sperlonga Data and Analytics is an affiliate of MMREM, a national asset management firm, and was created to bridge the gap between HOAs and servicers to help stakeholders minimize losses associated with HOA claims.

Among the provisions stipulated in Florida's newly revised House Bill 319 are enhanced specifications regarding banks' obligations to homeowner associations (HOAs). When a bank forecloses on a home, it potentially absorbs liabilities from unpaid homeowner or condo association fees, which are often compounded by late fees and attorney fees. Reps. George R. Moraitis and Fed Costello co-sponsored House Bill 319, providing banks clarification on just how much liability they incur.

Marking the fifth consecutive month of decline, home prices fell 0.8 percent in October, matching levels last seen in 2002, according to Lender Processing Services' (LPS) Home Price Index released Wednesday. As of October, the national home price average was $200,000. The year-to-date decline in October was 2.7 percent. The LPS index noted that price declines were consistent across the country. In fact, prices fell in October in 403 out of the 409 metro areas LPS tracks.

Matt Martin Real Estate Management (MMREM) has named mortgage industry veteran Timothy Walsh to the position of executive vice president. MMREM is a national asset management and disposition firm that deals with multiple federal agencies, mortgage servicers, investors, and insurers. Its affiliate company Sperlonga Data & Analytics provides solutions to facilitate the resolution of homeowners associations' (HOAs) claims for unpaid fees. Walsh was also named as executive vice president of Sperlonga Data & Analytics

Code Violation Services (CVS) announced Tuesday a new technology platform built to address obstacles presented when homeowner association (HOA) obligations are not satisfied on a property. The new HOA Plus technology will help investors, lenders, servicers, asset managers, and title and closing companies avoid fines and delays due to unmet HOA requirements. While CVS is not the first to offer an HOA database, its database is unique in that it helps match HOAs with specific addresses.

Matt Martin Real Estate Management (MMREM) has named lending industry veteran Ivan Choi to the newly-created position of senior vice president. In his new role, Choi will be a key member of MMREM's executive and planning team, working directly with CEO and founder Matt Martin, as well as the management team of Sperlonga Data & Analytics, MMREM's affiliate company.

Field Asset Services (FAS), a nationwide provider of field services to the REO industry, announced the availability of a new pre-foreclosure service called Avert this week. The company explained that by utilizing integrated technology and building on FAS's experienced staff, Avert offers banks and servicers, for the first time, a single source solution to reduce default expenses and avoid foreclosures.

The National Association of Mortgage Field Services (NAMFS) has teamed up with the REO property preservation firm Field Asset Services, Inc. to provide its members with information on local code enforcement officials and homeowners association (HOA) contacts. The organization's database contains approximately 12,000 code officials and 2,500 HOA contacts nationwide and has been tied to interactive search tools available via the NAMFS website.

Freddie Mac's REO disposition unit HomeSteps rolled out a new program this week aimed at trimming its inventory of foreclosed condominiums. HomeSteps' Condo Cash is a special limited time offer that will provide eligible condominium buyers with up to $1,500 for standard condominium association dues. Offers must be submitted between August 15 and November 15, 2011 and close escrows by December 30, 2011.