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How to Navigate and Respond to the New Fannie Mae/Freddie Mac Temporary Guidelines for Condominiums
Presented by: Becker & Poliakoff

This course is approved by Community Association Managers International Certification Board (CAMICB) www.camicb.org to fulfill continuing education requirements for the CMCA® certification

In reaction to the tragic condo collapse in Florida, Fannie Mae and Freddie Mac amended their requirements that have resulted in lender questionnaires to be answered by associations and their managers that are ambiguous and impose potential liability. If the questionnaire is not completed the lender will not approve the loan to a buyer. But if the very broad questions are correctly answered that, too, may result in the lender declining the mortgage. Boards and managers must understand these new obligations and be prepared to answer the questionnaires properly. Panelists will discuss: The new disclosure requirements, the liability for responding erroneously, and best practices for answering the new questionnaires.

01:00:00

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Speakers

David L. Dockery, Esq.
Senior Attorney @Becker & Poliakoff
David Dockery focuses his practice on the representation of community associations in New Jersey and New York, advising board members and managers with regard to general association operations, legal interpretation of governing documents, contract negotiations, and amendments, as well as litigating issues common to community associations. He also serves as an alternative dispute resolution mediator through the New Jersey Community Associations Institute (CAI).
Tana Bucca, Esq
Shareholder @Becker & Poliakoff
Tana Bucca represents condominium associations, homeowner associations, and cooperatives in all of their legal matters. She represents clients throughout New Jersey with general corporate matters, collections, governing document reviews, drafting and negotiating contracts, rule and regulation enforcement, transition negotiations, construction defect litigation, and alternative dispute resolution.
Ellen M. Goodman, Esq.
Senior Attorney @Becker & Poliakoff
Ellen Goodman represents condominium associations, homeowner associations, and cooperatives in the pursuit of delinquent assessments, interpretation and drafting of master deed and bylaw provisions, enforcement of association rules and regulations, as well as negotiation and preparation of routine vendor agreements and large-scale renovation contracts