New Condominium Regulations and Rules with Richard Green
Description
Maryland REALTORS® CEO, Chuck Kasky is joined by Richard Green, Branch Manager and Vice President of Presidential Bank Mortgage. Richard is also a member of the Howard Country Association of REALTORS®, is the current co-chair of the Legislative Committee for the Mortgage Bankers, and has a 46-year career in the mortgage industry.
Listen as Richard provides tips and offers his expertise to clarify some of the new rules and regulations surrounding condominium lending practices. The new rules are intended to address the concerns of consumers and lenders in regards to aging infrastructure and potential risks buildings may pose due to lack of maintenance.
House Bill 107
Requiring the governing body of certain cooperative housing corporations, condominiums, or homeowners associations to have a reserve study conducted of the common elements of the cooperative housing corporation, condominium, or homeowners association and to update the study every 5 years; imposing certain requirements relating to the annual budget of a cooperative housing corporation, condominium, or homeowners association; etc.
United States
