New Fannie Mae Loan Regulations and Other Legislation

A number of laws and regulations were recently enacted that will impact properties managed by FirstService Residential. Our experts will examine new laws/regulations and provide insights into how these laws affect New York co-ops and condos, and decisions or actions boards must take.   

What We’ll Cover :

• Fannie Mae/Freddie Mac Regulations on Loans Secured by Co-op/Condo Units  
  • ​Answering Supplemental Lender Questionnaires  
  • Impact on buildings with “significant deferred maintenance” or “unsafe conditions”  
  • Reserve funds  

• Amendments to the Housing Stabilization and Tenant Protection Act (HSTPA)  

• Reverse Mortgages for Tenant-Shareholders Age 62 and Older  

• Periodic Inspections of Parking Structures  

• Recent Updates on the Coop/Condo Abatement and the Prevailing Wage Requirements 

Our Experts  

Michael Wolfe  
President of Property Management  
FirstService Residential  

Ben Kirschenbaum
Vice President & General Counsel  
FirstService Residential