Molly Foley-Healy

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In response to a Colorado Open Records Act (“CORA”) request, I was provided with the 2011 Annual Report of the HOA Information and Resource Center. This is the long-awaited report that focuses on the activities of the HOA Information and Resource Center (the “Office”) including a synopsis of inquiries and complaints. Below I have outlined just a few interesting points made in the Annual Report. However, to be clear, these are snippets of information and I highly recommend that you review the entire Report for context and a full understanding of the data and related issues. 

Here are just a few of the interesting points made in the Annual Report: Continue Reading 2011 Annual Report Of The HOA Information And Resource Center

In an election year that could easily be plagued by partisan politics and the introduction of divisive legislation, I’m taking my hat off to Representative Angela Williams for working with school children in her district by introducing House Bill 11-1147 to make the Western Tiger Salamander the state amphibian of Colorado. Not only will her young constituents have an up close and personal view of how a bill becomes law, they will also learn firsthand the importance of civic activism.

 

Continue Reading Three Cheers for the Western Tiger Salamander!

On Sunday, the Denver Post ran a story addressing the impact of FHA certification of condominium projects on the sale of units in those projects. The story, entitled Condos’ lapsed approval may slam door on future sales, touched on just a few of the challenges condo associations are facing in obtaining certification – including assessment delinquencies and the number of owner-occupied units.   

Following the meltdown of the real estate market, HUD undertook an overhaul of the requirements that condominium associations must comply with in order for their condo projects to become FHA certified. This certification makes it possible for some purchasers of units in those associations to qualify for FHA-backed loans. Continue Reading Denver Post Covers Impact of FHA Certification on Condo Market

As Chair of CAI’s Colorado Legislative Action Committee ("CLAC"), I write a monthly column for  Common Interests magazine which is published by the Rocky Mountain Chapter of CAI.  In Capitol Chronicles this month, I addressed:  (1) the background related to the Sunrise Review Application submitted to the Colorado Department of Regulatory Agencies ("DORA") to investigate the necessity of…

Meet the CFPB

In 2010, Congress created the Consumer Financial Protection Bureau (CFPB) to serve as the nation’s “cop on the beat” to protect consumers from harmful financial products. Officially opened for business on July 22, 2011, the CFPB is now responsible for enforcing most federal financial consumer protection laws.

CAI’s members have a keen interest in the development of CFPB’s rules and regulations that could affect community associations. As a new federal agency, the CFPB is still working to define its approach to protecting consumers from abusive financial products and helping to ensure consumers have the right information to choose the financial products and services that will best meet their needs. While the CFPB’s authority extends from checking accounts to credit cards to payday loans, it also has significant authority over federal housing policy, mortgage lending standards and the home buying process.Continue Reading CAI National Introduces Us To the CFPB

As I have been reviewing legislation that was introduced during the first week of the legislative session here in Colorado, House Bill 12-1057 (“HB 1057”) caught my attention. The bill, as introduced by Representative Claire Levy, seems to be aimed at ensuring that folks carry adequate homeowner’s insurance. Continue Reading Homeowner’s Insurance Bill Introduced in the Colorado House

As I mentioned this morning in an earlier blog posting, data on complaints received by the HOA Information Office during 2011 was published in the Colorado Real Estate News. Again, to be clear, the information published was a synopsis of complaint information and is not the actual report which the HOA Information Officer is soon expected to deliver to the Director of the Division of Real Estate.  However, the information is published by the Department of Regulatory Agencies ("DORA") and here are some items I found particularly interesting:Continue Reading Synopsis of Data on HOA Complaints to the HOA Information Office

Many of us in the HOA industry in Colorado have been anxiously awaiting publication of information regarding the report from the HOA Information Officer to the Director of the Division of Real Estate on complaints received relating to HOAs.  A synopsis of findings of the HOA Information Center on complaints was just published in the Colorado Real Estate News.   …

Last year during the 2011 legislative session, Representative Cindy Acree was successful in passing House Bill 11-1110 to address open meetings and transparency in governance for “Residential Nonprofit Corporations.” As originally drafted, the bill would have included homeowners’ associations (“HOAs”) that were similarly regulated under the Colorado Common Interest Ownership Act (“CCIOA”). Since this wasn’t the intent of the bill, Representative Acree specifically excluded HOAs from the definition of "Residential Nonprofit Corporations" and focused upon independent senior living facilities. Continue Reading Bill Introduced to Address Open Meetings for Residential Nonprofit Corporations