Ever since the catastrophe at Surfside Condo in Miami in June 2021, both Fannie Mae and resident HOA's are really looking at their buildings structural integrity and double checking with engineering companies
When getting a loan nowadays , the lender, the mortgage broker, the HOA or management company and the customers have to jump through more hoops than ever to make sure the buildings are safe and all of the necessary safe guards have been put in place. For work in progress situations, we even have to jump a little higher. Here is a video that we prepared that points out that in a given community we may have to answer more questions than we expected.
If you have questions about a given community, please feel free to give us a call. We have a master list with the largest wholesale lender in the country, so we should be able to track down any community that has a fair amount of volume in it.