What Condo Associations Need to Know About Fannie Mae’s Reserve Changes — and California’s AB 2050
Condominium associations are facing increasing pressure to strengthen their reserve funding, driven by both lending standards and potential legislation. Fannie Mae is considering raising its minimum reserve contribution requirement from 10% to 15% of an association’s annual budget—a 50% increase that could directly affect mortgage eligibility for buyers. Communities that fail to meet these thresholds may see reduced […]
HOAs & HOA Managers Are Not Required to Resolve Neighbor Disputes
*New Case Law The California Court of Appeals decision in Woolard v. Regent Real Estate Services Inc. (“Woolard”) provides important clarity on the responsibilities of homeowners’ associations (“HOAs”) and community managers in neighbor disputes. It also aligns with what we’ve written previously on the subject of neighbor-to-neighbor disputes: that neither HOAs nor community managers are […]