After getting bogged down on the Senate calender as we approach the end of the legislative session next week, House Bill 1237 (the HOA records bill) was just heard this afternoon and passed by the Senate on second reading.  HB 1237 is expected to be heard by the Senate on 3rd reading as early as tomorrow morning.  The bill was amended…

Yesterday our own Congressman from Colorado, Ed Perlmutter (D, 7th District), sent an outstanding letter to Carol Galante (Acting Federal Housing Commissioner and Assistant Secretary for Housing with HUD) addressing some very real problems with the current FHA certification requirements.  Congressman Perlmutter called on Acting Commissioner Galante to revisit the FHA certification requirements relating to:

" ● No more than 15 percent of the units…

Here’s the latest from CAI National on expected revisions to the FHA certification requirements for condominium associations: “The Federal Housing Administration (FHA) is likely to take action in the coming months that will affect community associations. FHA is preparing new policies for condominium project approvals and will soon release guidelines on the use of transfer fees by community associations.Continue Reading CAI National Believes FHA Action on Condos, Transfer Fees in Pipeline

As Chair of CAI’s Colorado Legislative Action Committee (“CLAC”), last week I participated on a legislative update panel at the CAI Rocky Mountain Chapter Spring Showcase. While the session addressed the status of manager licensure in Colorado, the main focus of the discussions were on the perception of the HOA industry by legislators, their constituents, regulators and special interest groups and what that means for the industry in the future on the legislative and regulatory front. 

The panel discussion began with a presentation by Aaron Acker, the HOA Information Officer, who noted that the number of complaints being lodged with his office have been increasing this year. Mr. Acker reported that while the calls are generally tracking the categories of complaints outlined in the 2011 Annual Report of the HOA Information and Resource Center, he is seeing a new trend in complaints relating to HOA law firms with an emphasis on how some firms are utilizing the foreclosure remedy.Continue Reading HOA Industry Can’t Afford to Be Tone Deaf

Just minutes ago, the Senate Local Government Committee unanimously approved a slightly amended version of House Bill 12-1237 ("HB 1237").  As you know, HB 1237 amends the association records provision of CCIOA to:  (1) make it clear what records must be maintained and produced to homeowners; (2) specifically list the types of records which may be withheld from production; and (3) eliminate…

The Federal Housing Finance Agency (FHFA) has published a Final Rule in the Federal Register that limits the ability of Fannie Mae, Freddie Mac and the Federal Home Loan Banks to deal in mortgages on properties that are encumbered by private transfer fee covenants.  

A News Release from FHFA announced the outstanding news that "The final rule excludes…

The Community Associations Institute’s (CAI) – Colorado Legislative Action Committee (CLAC) has been carefully reviewing DORA’s 2012 Sunrise Review: Common Interest Community Association Managers (Sunrise Review). For those of you who have read the Sunrise Review, you know that DORA ultimately recommended the regulation of management companies.      

The CLAC feels that DORA’s recommendation to regulate management companies will not provide protection to all Coloradoans living in homeowners’ associations. DORA’s conclusion that, “For the most part, community associations contract with management companies, not individual community managers” does not accurately reflect the fact that many associations around Colorado retain the services of managers who are not affiliated with a management company.Continue Reading CLAC Update on Status of Manager/Management Company Regulation

This morning the Colorado Department of Regulatory Agencies (DORA) published the Sunrise Review on whether the licensure of community association managers in Colorado is necessary. The Sunrise Review Application submitted by CAI’s Colorado Legislative Action Committee (“CLAC”) recommended the licensure of individual community association managers. 

The analysis in the Sunrise Review focused largely on whether unregulated community association managers pose potential harm to the residents living in community associations and the financial costs associated with potential regulation. The categories of “harm” outlined in the report include: Continue Reading Communication from CLAC on DORA Sunrise Review