Tag Archives: Homeowner Association

According to Sperlonga Data and Analytics, unpaid homeowners association (HOA) fees are a clear sign of potential mortgage default. Sperlonga has launched a new service, Loss Mitigation Association Surveillance (LMAS), which is designed to help mortgage servicers reduce risk after a loan modification by alerting lenders when a borrower is falling behind on HOA fees, which are historically difficult to track. With the new service, lenders can identify potential defaults or troubled modifications months before the borrower misses a mortgage payment.

MMREM, a national asset management firm for federal agencies and private sector servicers, investors, and insurers, launched its partial subsidiary Sperlonga Data and Analytics last week. Sperlonga provides servicers, title agents, real estate brokers, appraisers, and originators with a centralized repository of homeowner association (HOA) information and payment demands.

JJL Process Corporation, a technology provider in the process serving industry, recently announce the appointment of industry veteran Joel Rosenthal as the company's director of business development. Rosenthal joins JJL after nine years with a premier national debt buyer. For the past 20 years, JJL has specialized in serving collection papers, including those for homeowners association (HOA) foreclosures.

More than half of the estimated 310,000 homeowner and condominium associations in the U.S. are struggling with financial issues stemming from the nation's foreclosure crisis, according to the Community Associations Institute. Because they are unable to collect fees from empty homes to fund services such as utilities and maintenance, vacancy rates can have a significant impact on homeowner associations. To stay afloat, they are borrowing, postponing improvement projects, levying special assessments, and restricting services.

Santa Ana, California-based Data Tree, LLC, a provider of recorded land documents and a part of The First American Corp., announced the release of DocEdge.com™ this week. The company describes DocEdge.