From Capitol Hill/Legislation

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Senate Bill 11-253 (“SB 253”), sponsored by Senator Morgan Carroll and Representative Angela Williams, was just introduced in the Colorado General Assembly. The purpose of the bill is to clean-up and clarify provisions of HB 10-1278 which last year created the HOA Information and Resource Center (“Center”) and the HOA Registration to fund the Center – both of which are under the auspices of the Colorado Division of Real Estate (“Division”).  

CAI’s Colorado Legislative Action Committee (“CLAC”) supports SB 253 and worked hard to get the legislation introduced. Here’s what you need to know about the bill:Continue Reading Late Status Bill Just Introduced to Clean-Up HOA Registration

On Tuesday afternoon, the Senate Committee on Local Government (“Committee’) held a hearing on Senate Bill 11-234 (“SB 234”) – the residential transfer fee bill. As we noted in our April 7th blog posting, SB 234 currently prohibits the future recording of residential transfer fee covenants or liens which require payment of a transfer fee. The bill has several carve outs which include the fees management companies charge in relation to the conveyance of a unit and transfer fees for community associations which are present in a recorded document. 

The Colorado Bar Association, Land Title Association of Colorado, Colorado Mortgage Lenders Association and CAI’s Colorado Legislative Action Committee (“CLAC”) all testified in favor of the bill. These interest groups made the following consistent points:Continue Reading Senate Committee on Local Government Holds Hearing on Residential Transfer Bill

Just a few minutes ago, Governor Hickenlooper signed House Bill 11-1124 (“HB 1124”) into law. As you know from recent blog postings, HB 1124 addresses the Conflicts of Interest Policy that community associations in Colorado are required to adopt. 

In particular, HB 1124 requires that a Conflicts of Interest Policy must contain the following provisions:Continue Reading HB 1124 Signed Into Law – Take Advantage of Our Free Conflicts of Interest Policy Review!

Frequently Asked Questions for FHA Clients during a Government Shutdown:

The following HUD/FHA Information Resources will be available during a government shutdown:

·HUD/FHA Resource Center: (800) 225-5342

·HUD/FHA National Servicing Center: (877) 622-8525

·HUD’s primary internet site:  http://www.hud.gov  (but will not be updated)

·The Resource Center FAQ site:  http://www.fhaoutreach.gov/FHAFAQ

HUD/FHA staff will not be available to respond to case specific questions.  All questions that cannot be answered by contract staff at the Resource Center and the NSC will be deferred until the government re-opens.

Please be aware that HUD Staff will not be available to process incoming mail during a government shutdown so business partners should suspend shipment of documents and approval packages during the term of the shutdown.  The following are examples of such documents:  Submission of FHA Test Cases, HRAP condominium approval packages, NAID requests, etc.   Continue Reading HUD Publishes Frequently Asked Questions in Case of Government Shut Down

Senate Bill 11-234 (“SB 234”), which was granted late bill status, has just been introduced in the Colorado Senate. After months of negotiations between stakeholders, SB 234 was introduced to address concerns relating to residential transfer fees, to protect equity in homes and to promote the sale of residential real estate. 

SB 234, as currently written, provides as follows: Continue Reading Transfer Fee Bill Just Introduced in Colorado General Assembly

As we announced in our blog posting earlier today, the Colorado Senate just passed House Bill 11-1124 (“HB 1124”) which will soon be sent to Governor Hickenlooper for consideration. Since we expect the Governor to sign the bill into law, there’s no time like the present to make sure your HOA’s Conflicts of Interest Policy complies with the requirements of the bill.Continue Reading Free Conflicts of Interest Policy Review!

The Colorado Senate just passed House Bill 11-1124 ("HB 1124") without amendments on a 23 to 11 vote.  As we more fully described in our March 22nd blog posting, the bill enumerates the provisions which must be present in the conflicts of interest policy that every homeowners’ association ("HOA") in Colorado is required to adopt.  In addition, HB 1124 requires that an…

During the 2010 legislative session, House Bill 10-1403 (“HB 1403”) was signed into law by Governor Ritter. The purpose of HB 1403 was to enable the Colorado Secretary of State (“SOS”) to reduce the costs of operations through phasing out postcard notifications and permitting corporations, including nonprofit corporations like homeowners’ associations (“HOAs”), to elect to file …

The Senate Committee on Local Government (“Committee”) today considered House Bill 11-1124 (“HB 1124”) which addresses conflicts of interest for individuals serving on the board of their homeowners’ association (“HOA”) and on special district boards. 

The bill was passed unanimously by the Committee with a favorable recommendation to the full Senate.  In addition, the Committee is recommending that the bill be placed on the Senate Consent Calendar. We expect the Senate will approve HB 1124 which currently contains the following provisions:Continue Reading Conflict of Interest Bill Clears Senate Committee on Local Government