CAI NJ Community Trends

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“The New Fannie Mae and Freddie Mac Lender Questionnaire: To Answer, or Not to Answer, That is the Question!” – CAI NJ Community Trends

Prompted by the Champlain Towers Condominium collapse in Surfside, Florida, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) recently issued new temporary requirements as an attempt to mitigate risk in community association loan underwriting. Many other industries within the community association world, such as insurance, have adjusted […]

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“Tolling the Statute of Limitations for Community Association Construction Defect Claims” – CAI NJ Community Trends

On January 11, 2022, New Jersey Governor Phil Murphy signed into law a statute that amends the Statute of Limitations (SOL) for the filing of a lawsuit against a developer, its design professional and subcontractors for construction defects. While it was common interpretation of applicable case law that an owner-controlled board had at least six […]

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