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HOMEOWNERS ASSOCIATION CERTIFICATION LETTER by AndrewIsherwood

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									     HOMEOWNERS ASSOCIATION CERTIFICATION LETTER


Project Name: ___________________________________________________________

Address: _______________________________________________________________

City, State, Zip: _________________________________________________________

Borrower(s): ___________________________________________________________

We have received an application for a mortgage on a unit in the project identified above. In order
to expedite this application, we will require additional information.

Please complete this letter by responding to each question in the spaces provided Any officer of
the Homeowner’s Association, the Managing Agent (if you have one) or attorney for this
association may respond. This letter must be completed in full and signed by one of the above
individuals in order for the project to be considered for approval. Please note that the borrower’s
loan application cannot be fully processed until you have completed and returned this letter.

Homeowner’s Unit Assessment $ _______________

1. Total Number of units in project

2. Total number of units in subject phase.

3. Total number of units that are sold and closed.                                               %

4. Total number of units that are sold pending closing.
                                                                                                 %
5. Total number of units that are not sold.
                                                                                                 %
6. How many units within the project are owner occupied?
                                                                                                 %
7. How many units within the project are investment or rental units?                             %

8. Total number of units 30 days or more delinquent?                                             %


9. Does the association allow daily or weekly rentals:                          __Yes __ No
10. Are the unit owners (other than the developer in control of the Association: ____Yes __ No
11. Is this project, including the common elements, and those of any Master     ____Yes ____ No
    Association, complete, and not subject to additional phasing or annexation?
    If no, please explain____________________________________________




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12. Is there any commercial usage:                                                    __ Yes __         No
    If yes, please describe type of usage and total square footage used as
    commercial space


13. Are there any special assessments pending?                                        __ Yes __         No
    If yes, amount of assessment $ _____________________________
    Description_____________________________________________


14. Is there any legal action pending against the condominium association,            __ Yes __         No
    or its officers or director? If yes, please provide details on a separate page.


15. Are there any adverse environmental factors affecting the project as a whole      __ Yes __         No
   or individual units? If yes, please provide details on a separate page.

16. Do the legal documents of the Homeowners Association contain a right of           __ Yes __         No
    first refusal or restrictive covenant?

17. Does the Homeowners Association have a reserve plan and a reserve fund,           __ Yes __         No
    separate from the operating account, that is adequate to prevent deferred
    maintenance: The amount of the reserve fund is $___________________
    as of ____________________________.

18. Does the Homeowners Association have Fidelity Bond?                               __ Yes __         No
    If yes, amount of bond $ ________________________.


19. Does the Homeowners Association have adequate common area insurance               __ Yes __         No
    coverage, general liability, replacement coverage, etc. Flood and other insurance
    if applicable? (Please provide a copy of the insurance).

                                                 Certification


This information provided is accurate to the best of my knowledge as of _____________________. It is
presented on behalf of the condominium association as stated.

                                                   __________________________________________
                                                   Signature of President, Attorney or Management Co.

                                                   __________________________________________
                                                   Name and Title

                                                   __________________________________________
                                                   Area Code and Telephone Number




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