First of its kind? Angel Oak securitizes $90 million in fix-and-flip loans

In a deal the company claims is a first of its kind, Angel Oak Capital Advisors recently completed a $90 million securitization backed by fix-and-flip loans. The securitization’s structure is unique because the terms of the underlying loans expire before the securitization does. As such, new loans will replace the paid-off loans in the securitization.

Fannie Mae: Fewer lenders easing credit standards

Less lenders are choosing to ease their credit standards, despite their negative profit margins. Mortgage lenders reported a net negative profit margin outlook for the sixth consecutive quarter, matching the all-time low reading from the fourth quarter in 2016.

The Barrent Group hires Art Yeend to lead business development

The Barrent Group, a mortgage loan due diligence, quality control and consulting services provider, announced this week it recently named Art Yeend to serve as the company’s business development director. Yeend comes to company with more than 30 years of experience in capital markets, sales and production in the mortgage industry and on Wall Street.

Builder confidence slips for third consecutive month

Builder confidence dipped in March, falling for the third consecutive month, however it is still at a high level historically. The National Association of Home Builders cautioned builders are reporting challenges in finding buildable lots, which could limit their ability to meet demand.

Alteration Agreements Must Have These Three Elements (NY)

It was maddening. Shareholders in a 780-unit Queens co-op kept complaining to the board about banging noises in the middle of the night coming from a particular apartment. When the board asked to inspect the apartment, the shareholder who lived there refused. Finally, building staff got inside – and discovered that the shareholder who lived there had undertaken a gut renovation without board approval.    Read the article………………

What Makes a Good Property Manager?

There are a lot of property managers out there. They have different backgrounds, styles and strengths. It is important for the board of directors of your homeowner’s association to look for a management company that will best serve your community. Do they have the expertise that your association needs?     Read the article…………….

One Way to Build a Better Board

Changing the way you think about board member recruitment in one simple way may lead to creating a better board. Also: growth strategy tips for major donor relationship-building and more.
The right board can help ensure your organization’s future success. How can your board member search committee ensure it builds a dynamic one?  Jay Love, chief relationship officer at Bloomerang, recently learned a “simple and yet so elegant” secret from Kent Stroman, the author of The Intentional Board. “Recruit only board members who could serve as board chairs,” writes Love in a recent Bloomerang blog post.     Read the article…………….

Skimping on Reserve Contributions Doesn’t Save you any Money!

What’s better – $50/mo Reserve contributions (as part of your condo’s total monthly assessment) or $70/mo? All other things being equal, I’d rather pay a $50 monthly bill than a $70 monthly bill. But… not all other things are equal.  Let’s say you live in a 80 unit condo, and the Reserve Study finds your association needs $5600/mo in Reserve contributions to offset ongoing deterioration and prepare for upcoming Reserve projects. That works out to $70/unit, each month. But the budget is tight (author’s note… isn’t it always?), and the board wrestles with and proposes $50/mo, because other costs have increased and hey “something’s got to give” in order to stay within their targeted assessment increase.     Read the article……………..

Avoid These Six Common Detours in your Reserve Study “Roadmap to the Future”

We’ve said it before, we’re saying it today, and we will undoubtedly say it many more times in the future: Reserve funds, and most (if not all) things related to them, are tricky. And time and again we find ourselves turning to reserve expert Robert Nordlund, PE RS, CEO of Association Reserves, and his wealth of knowledge about reserves, as well as his passion for the accounting side of community association management.    Read the article…………….