By: Stephanie Diana Gast- Wilson So, it is industry common knowledge that federal lending agencies regarding condo project financing only lend in condo projects that are primarily in residential complexes. However, there is a tricky question that keeps coming up regarding this vague principle keeps coming up. The question being if apartment complexes in condo … More When Is Commercial Space Not Commercial Space?
Stephanie Diana Gast- Wilson It is understandable that since Condo underwriting is such a specialty skill that many terms and jargon are lost on those who invest or work within the industry and do not deal with condos on a daily bases. So, this is a first part series of condo glossary terms. This … More Condo Terms Glossary A- G
Yes, there is a difference between site condos and detached condos and they are underwritten differently as well. … More Site Vs. Detached Condos
By: Stephanie Diana Wilson Now this is a phase I have had to explain over and over drives me nut. It drives me nuts when sales reps and branches try to tell me a subject unit is, “it’s a townhouse not a condo”. Which is a common statement in DC and Colorado where there are … More It’s A Townhouse NOT a Condo?
By: Stephanie Diana Wilson Based on questions I have been getting not just at work but; from other friends who work in the mortgage field a blog post on Florida Condo Underwriting guidelines since they differ greatly from condos anywhere else in the country. Or as one of my friends in the mortgage industry says, … More Florida the Sunshine State with Different Condo Rules
Like any sort of local wild life sharks need to be considered too when buying a home. … More Sharks and Real Estate
By Stephanie Diana Wilson- Gast When underwriting Condos one of the topics that comes up is delinquency ratios in a project and why does it matter? Well, this is a complex issue within Condo Review and Compliance. First of all we should define what the delinquency issue is. When a person is late on paying … More Delinquency Issues and Condos