- Written by Sanford Johnson
Senior Partner Charlie Perkins has reviewed the article below, written by Dawn Bauman, Senior Vice President at Community Associations Institute, and suggests it as informative to condominium unit owners, managers and trustees:
- • Following the June 24, 2021, collapse of Champlain Towers South condominium in Surfside, Fla., Fannie Mae and Freddie Mac implemented temporary emergency underwriting guidelines requiring lenders to assess the safety of condominium and housing cooperative buildings. The temporary guidelines are having a negative impact on condominium and cooperative homeowners residing in safe buildings.
- • Fannie Mae and Freddie Mac recognize the negative consequences of the temporary guidelines and in May 2022 submitted policy revisions to the Federal Housing Finance Agency (FHFA) for approval. FHFA has delayed implementation of the proposed revisions.
- • CAI requests Senators contact FHFA and urge Director Thompson to expeditiously complete the agency’s review of the enterprises’ policy recommendations and to approve the revisions consistent with key policy principles outlined below.
- Written by Sanford Johnson
This article was written by Dawn Bauman, CAE and C. Scott Canady, of Community Assciations Institute, on Jul 21, 2022. It comes recommended by Senior Partner Charlie Perkins:
The House Financial Services Committee yesterday received testimony from Federal Housing Finance Agency Director Sandra Thompson. In a memo, CAI urged members of the committee to ask Thompson about ways to improve access to mortgage credit for condominium and cooperative homeowners and homebuyers residing in structurally safe buildings.
We pointed out the Fannie Mae and Freddie Mac condominium and cooperative policy directive is disrupting access to mortgage credit for homeowners in safe buildings. In a survey of the condominium industry, 72% of respondents were impacted by the new guidelines, 45% reported mortgage closing delays, and 28% indicated the guidelines caused loan denials in condominium projects with no identifiable structural or financial integrity issues. Read the full memo.
We shared our work with other stakeholders, including the National Association of Realtors, Mortgage Bankers Association, and the Community Home Lenders of America who also requested FHFA suspend and revise the new guidelines.Add a comment
The following was written for the Ccommunity Associations Institute Advocacy Blog by Dawn Bauman, CAE and Phoebe E. Neseth, Esq. on Jun 24, 2022 and comes as recommended reading by Perkins and Anctil Senior Partner Charlie Perkins
Today marks the one-year anniversary of the partial collapse of the Champlain Towers South Condominium Association in Surfside, Fla. CAI and our Southeast Florida Chapter are attending the Surfside Remembrance event in Surfside to honor those who lost their lives, the loved ones of the victims, and the survivors who lost their home and neighbors in the tragic collapse.
The tragedy took 98 lives. CAI members and staff are committed to pursuing best practices, education, and public policy to make sure this heartbreaking tragedy never happens again.Add a comment
The following is a Community Associations Institute press release dated 5/27/22 and comes as recommended reading from Senior Partner Charlie Perkins:
CAI applauds the Florida legislature for unanimously passing comprehensive and meaningful condominium safety measures to support the 9 million Floridians living and working in community associations.
Last week, the Senate voted 38-0, and the House voted 110-0, to support the legislation after a powerful and heartfelt standing ovation for state Rep. Daniel Perez (R-Miami-Dade County), the bill's sponsor in the House. Governor DeSantis signed the bill. CAI representatives were in Tallahassee during the legislature's special session and were the only ones to speak on behalf of the new bill.Add a comment
Senior Partner Charlie Perkins would like to share the following CAI blog post:
CAI applauds Representatives Charlie Crist (D-Fla.) and Debbie Wasserman Schultz (D- Fla.) for introducing H.R. 7532, the Securing Access to Financing for Exterior Repairs (SAFER) in Condos Act, the result of months of close collaboration with CAI representatives. This legislation will make it easier for condominium owners to afford special assessments for structural and safety repairs. Owners would be able to obtain low-interest loans to fund repairs through two programs guaranteed by the U.S. Department of Housing and Urban Development.Add a comment
Perkins & Anctil, P.C. is proud to announce that Partner Kim Alley raised $30,000 for Dana-Farber with her Boston Marathon this year.
Kim was recognized as an elite “26.2K Pacesetter” on Marathon Monday – which is a recognition given to only Dana-Farber’s top fundraisers. In just 6 months, Kim has raised a grand total of $53,000 for Dana-Farber with her 2 Boston marathon runs. Congratulations Kim!
Thank you for your overwhelming support of Kim’s marathon runs for this life-saving mission! Our firm is grateful for the generosity of our clients, colleagues and friends in helping us make great strides toward the ultimate finish line - a world without cancer.
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This article was written by C. Scott Canady for the CAI Advocacy Blog on Apr 19, 2022 and recommended by Senior Partner Charlie Perkins.
Yesterday, April 18, 2022, U.S. Reps. Charlie Crist (D-St. Petersburg) and Debbie Wasserman Schultz (D-Broward, Miami-Dade) introduced the Securing Access to Finance Exterior Repairs (SAFER) in Condos Act of 2022. The legislation, a response to the partial collapse of Champlain Towers South in Surfside, Fla., on June 24 in which 98 people died, allows condominium homeowners to finance critical building repairs with loans backed by the Federal Housing Administration (FHA).
CAI has been working with Crist’s and Wasserman Schultz’s offices since last summer to introduce meaningful and practical legislation that will provide access to government-backed low interest loans to support critical repairs in condominiums. CAI is very pleased to have the legislators’ full support for condominium safety.Add a comment
The following was written by Dawn Bauman, CAE on April 14, 2022 and recommended by Senior Partner Charlie Perkins:
Updated lending questionnaires from Fannie Mae and Freddie Mac with new project requirements for condominiums and housing cooperatives to ensure structural safety have caught community association boards, managers, and business partners by surprise, as we reported in February. CAI continues to have conversations with the government-sponsored enterprises and their conservator, the Federal Housing Finance Agency (FHFA), to urge changes to the lending requirements and timeline for implementation.Add a comment
The following was written by Dawn Bauman of CAI and recommended by Senior Partner Charles A. Perkins, Jr.:
Guidance from Fannie Mae and Freddie Mac introduced in late 2021 brings new project requirements for condominiums and housing cooperatives to ensure safety and
structural stability following the partial collapse of Champlain Towers South condominium in Surfside, Fla., last June. However, the short timeframe of implementation and updated lender questionnaires have caught community association boards, managers, attorneys, and document providers by surprise, and they are now seeking to address the new requirements while keeping real estate transactions in their communities moving forward.
Today, CAI sent a letter to the Federal Housing Finance Agency (FHFA) requesting that implementation of the temporary guidelines be suspended by at least one year. Recently, CAI members shared that creditworthy borrowers have been denied credit to purchase homes and refinance mortgages in condominium and cooperative projects with no safety, soundness, structural integrity, or habitability concerns because of the temporary guidelines.
CAI supports the intent of the new requirements and understands the need for the government-sponsored enterprises to assess and mitigate risks associated with their respective condominium unit and cooperative share mortgage portfolios. CAI respectfully recommends a delay in implementation to support this outcome by reducing uncertainty; allowing associations, their managing agents, and service providers to produce documentation materials more efficiently; and accounting for state and local government enactment of appropriate condominium and cooperative project safety and financial solvency standards.
CAI continues to engage in conversations with Fannie Mae and Freddie Mac representatives, realtors, mortgage bankers, and others to find solutions that can help avoid a regulatory bottleneck and loss of capital and liquidity to the condominium and housing cooperative mortgage market.
We also are collecting data to better understand the impact of these new requirements on condominiums and housing cooperatives. If you are aware of a real estate transaction in a condominium and/or housing cooperative community that has been delayed, disrupted, or stopped because of the new guidance from Fannie Mae or Freddie Mac, please complete the survey.
In addition, CAI has released a new guide for our members to help them navigate the new requirements, including an FAQ section, that can be downloaded www.caionline.org/condosafety We also hosted a webinar on Jan. 26 with representatives from Fannie Mae and Freddie Mac as well as community association attorneys Edmund Allcock and Todd J. Billy, fellows
in CAI’s College of Community Association Lawyers. The webinar will be available on-demand soon at www.caionline.org/webinars.
Find more resources at www.caionline.org/CondoSafety.Add a comment
Partner Kim Alley was recognized by the Jimmy Fund as a featured Dana-Farber Marathon Challenge (DFMC) runner. Kim’s charitable marathon efforts raised nearly $23,000 for Dana-Farber last year. She is currently training for her 2nd Boston Marathon® for DFMC in April. Click here to see more: Dana-Farber runner feels privileged to be able to run again - Jimmy Fund BlogAdd a comment
The following article was written by Dawn Bauman of Community Associations Institute and comes as recommended reading from our senior partner Charlie Perkins:
Add a comment
Senior Partner Charlie Perkins forwards this post form the Community Associations Institute blog and would like readers to ask members of Congress to support H.R. 5298:
Community Associations Institute is pleased to announce the introduction of bipartisan legislation that expands access to FEMA disaster assistance to community associations. We are writing to ask you to contact your Member of Congress to urge them to cosponsor this legislation that helps community associations with disaster recovery efforts.
About the Disaster Assistance Equity Act
Residents and taxpayers just like you, living in community associations pay the same federal taxes as residents living in non-deed restricted neighborhoods. The current system is flawed and unfair, but this legislation recognizes and improves these inequities for the 74 million people living in community associations. Click here to read the full bill text. For a link to the CAI blog post, click below:
Add a comment
Written by Charles A. Perkins, Esquire
On June 22, 2021, a portion of the Champlain Tower South in Surfside, Florida, collapsed and caused substantial destruction, loss of life and was a tragedy that impacted hundreds of people. This event has galvanized leaders across the nation including lawmakers and members of the condominium industry and has brought to the forefront the need to reevaluate certain practices to implement changes to help prevent a tragedy like this from occurring again.
Community Association Institute (CAI) published the Condominium Safety Public Policy Report in October 2021. This publication by CAI is a must read for all those in the condominium industry. There are many individuals and groups who contributed their insight and recommendations to this report which could lead to substantial changes in the way condominiums operate throughout the country. An example of the topics discussed in this report include the following:
This is just the beginning of topics being discussed on the local and national level and will undoubtedly have an impact on how boards and community associations operate in the future.
We will continue to monitor this topic and provide an update of any changes.
 A complete version of this report is located at https://www.caionline.org/HomeownerLeaders/DisasterResources/Documents/CAI.pdfAdd a comment
Senior Partner Charlie Perkins is interested in sharing this press release from the Community Associations Institute regarding the current disaster assistance bill in the House of Representatives:
Bipartisan Legislation Expands Access to FEMA Disaster Assistance to Community Associations Falls Church, VA, Sept. 21, 2021—Today, Community Associations Institute (CAI) applauds Representative David Rouzer (R-NC) for co-sponsoring the Disaster Assistance Equity Act (H.R. 5298) with Representative Jerrold Nadler (D-NY); a show of bipartisanship that is rarely seen in today’s politics. John Garamendi (D-CA), Andrew Garbarino (R-NY), Nancy Mace (R-SC), Paul Ruiz (D-CA), Debbie Wasserman-Schultz (D-FL), and Lee Zeldin (R-NY) are additional cosponsors on the bill.
Currently, Federal Emergency Management Agency (FEMA) inconsistently interprets regulations in a way that prohibits community associations, commonly referred to as condominiums, homeowners associations, and housing cooperatives from qualifying for federal disaster response and recovery programs. The Disaster Assistance Equity Act will allow FEMA's Public Assistance Program to reimburse costs related to disaster debris removal from community association roads and waterways and allow FEMA's Individuals and Households Assistance Program to provide assistance to condominium unit homeowners for critical common element repairs after a natural disaster.
“In the aftermath of Superstorm Sandy, thousands of New Yorkers and other Americans were shocked to learn that FEMA's eligibility rules left them with no way of restoring their homes simply because they shared walls and floors with neighbors and lived in a homeowners’ association," said Representative Nadler. The bipartisan support is indicative of how this issue impacts so many Americans that have dealt with a natural disaster. In a Congressional briefing, CAI’s chair of the Government and Public Affairs committee Peter Kristian, CMCA, LSM, PCAM, general manager of Hilton Head Plantation in South Carolina explained that bill is not only for coastal communities hit by hurricanes, but also interior states that experience mudslides, fires, and tornados. He remarked that “Everyone across the entire United States can potentially be affected by one of these types of natural disasters.”
“As severe summer storms, wildfires, and hurricanes plague the lives of Americans across the country, the devastation highlights the inequities of the federal disaster recovery system for the 74 million people living in condominiums, homeowners’ associations, and housing cooperatives,” said Thomas M. Skiba, CAE, Community Association’s Institute’s (CAI) chief executive officer. “After a disaster, these communities deserve federal support. We applaud Chairman Nadler and the bipartisan sponsors of this important legislation.”Add a comment
The following was written by C. Scott Canady, originally posted the Community Associations Institute Advocacy Blog (www.advocacy.caionline.org/) and is recommended reading by Attorney Charlie Perkins:
Anyone who has lived in or worked with community associations knows that planning and preparation for natural disasters matters. That is why it is encouraging to see policymakers in Washington, D.C., take steps to make disaster recovery less complicated for common interest communities.Add a comment
The following was written by Dawn Bauman, Senior Vice President, Government & Public Affairs at the Community Associations Institute and is recommended reading by our Senior Partner Charlie Perkins:
One of the challenging factors of the COVID-19 pandemic is the economic impact on individual residents in community associations. As homeowners become unable to fulfill their financial obligation of paying assessments, they will require direct access to resources that can provide relief.
The American Rescue Plan Act passed by Congress and signed into law on March 11 includes the Homeowner Assistance Fund to help Americans avoid foreclosure and stay in their homes. CAI is very pleased to report that our advocacy efforts have paid off, as homeowners association assessments fall under eligible housing expenses when applying for the fund.Add a comment
Summary by: Jessica E. Molignano, Esq.
Wednesday, March 10, 2021 marked the one-year anniversary of the COVID-19 State of Emergency in Massachusetts. Although it has certainly been a long year, recent milestones are indicating that we are taking positives steps towards the “new normal.” The purpose of this article is to provide a summary of recent changes, such as the progression in the state’s reopening plan and recently released CDC guidelines for those who are fully vaccinated.
With public health metrics continuing to trend in a positive direction, the Baker-Polito Administration have announced plans for continued reopening.
Beginning on March 1, 2021, the Commonwealth returned to Step 2 of Phase III, pursuant to the four-phased plan to reopen the economy released by the Baker-Polito Administration in May, 2020.Add a comment
By: Scott J. Eriksen, Esq.
Once again, we want to thank all of you who took the time to participate in our recent survey regarding the impact of COVID-19 at your communities. This year has been incredibly challenging as the pandemic has forced all of us – including community associations and managers – to change the way we operate. It is evident that the health and safety of residents has been the foremost thought of our community association clients and managers this year, and that guiding principle is reflected in the responses that we received from all of you. We have been impressed with the determined efforts that our board and manager contacts have demonstrated, in face of the hurdles imposed by COVID, to keep their communities operating, to make necessary repairs, and to maintain community spirit and involvement.Add a comment
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