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Why It’s Crucial to Access Hard-to-Get HOA Contact and HOA Lien Data

January 26, 2023  //  BY Nicole Herold

Did you know that approximately 22 new Homeowners Associations (HOAs) are formed every day? This comes out to about 8,000 new HOAs every year. In total, there are approximately 355,000 HOAs nationwide which cover more than 50% of homeowners. If your business offers property services, funds or services mortgages, or creates homeowner reports and analytics, you need insight into HOAs liens.

HOAs play a significant role within the mortgage ecosystem. Knowing whether a property is in an HOA and the HOA dues the homeowner must pay are important when determining the risk of a borrower. Lenders, of course, need to know when a property is in an HOA so they can factor HOA fees into their underwriting calculations, along with property taxes, insurance, etc. to pre-qualify candidates. It’s important to note that after a mortgage is funded, an HOA could impact the status of a mortgage. This is especially true in the 22 super-lien states where HOA liens can take priority over the first-mortgage holder. Servicers and investors need to know that HOA fees are current. Whether you’re at the beginning of the real estate transaction funnel or at the end, access to HOA indicators and liens will help you manage your portfolio.

Creating a comprehensive view into a property and its borrower requires aggregating multiple types of data that likely come from a variety of sources. Assessor, recorder and HOA data all need to be combined to produce a compelling report. To keep your costs down, your data acquisition strategy should minimize the effort to ingest, link and manage the complete asset, all while presenting the best the industry has to offer.

Finding, collecting, and managing HOA data isn’t easy to do, and it takes a team of specialists to ensure it’s complete, current and accurate. It’s also crucial to find a vendor you can trust and that supports your efforts and goals.

The Easy Way to Access HOA Contact Data

To help mortgage and real estate professionals, as well as value added resellers, incorporate HOA data into their processes and products, First American Data & Analytics collects, standardizes and manages both HOA contact data and HOA liens in all 50 states and the District of Columbia.

Our HOA contact data includes:

  • HOA name
  • Fee type, amount and frequency
  • HOA contact name and address

To make this data asset even stronger, all HOA contact data is linked to the base assessor records. That means the HOA contact is tied to the property, owner and liens.

Uncover HOA Liens Early in the Process

First American Data & Analytics can also provide current information related to HOA liens to identify risk early for individual properties or across entire portfolios.

Powered by our industry-leading property database, HOA lien data is extracted off of recordings as soon as they are received. As with all transactions, HOA liens are linked to a specific property which enables us to deliver a broad view of the health of the property. The HOA lien solution includes critical data such as:

  • Document number and type
  • Lien amount
  • Recording date
  • Association and attorney contact information
  • Auction date (if available)

You can also get access to other related recordings such as releases, rescissions, Notice of Default and REO sales.

Get Data from a Trusted Source

Clients can access HOA contact and HOA lien data in several ways. Search for individual properties on the First American DataTree® platform or by integrating API. Receive a batch of data using match and append or let us manage your portfolio for regular monitoring. You can also license the data in bulk for derivative products and analytics. No matter the delivery channel, users will receive the most up-to-date and comprehensive insights, delivered in a format that works best for your specific situation.

Reach out to one of our property data experts to learn more – and receive a free download of our HOA Contact Report and HOA Lien Report.

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