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Legal Updates

Condo Lifestyles: A Cooperative’s Guide to Navigating Lending Disclosure Requirements

Date

July 26, 2023

Read Time

less than 1 minute

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Following the tragic condominium building collapse in Surfside, Florida, lenders began requesting certain disclosures related to deferred maintenance, safety and habitability of condominium and cooperative buildings in connection with unit and apartment sales and financing to meet the Fannie Mae guidelines. In this article published in Condo LifestylesLaura Marinelli and Molly Mackey provide information on the new requirements and share suggestions for cooperative boards that want to make limited disclosures.


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