A new CoreLogic service aims to help servicers and mortgage investors keep tabs on properties in states that give homeowners' associations super lien status.
The HOA Super Lien Check works to protect loan portfolios and residential mortgage-backed securities. The service follows recent court decisions in
The service monitors loans in the 22 super lien states across the country and pairs loans to HOAs in question. Additionally, the service keeps track of HOA contact information.
Investors can also use it to learn county filing requirements, gather information to complete and execute a request for notice from counties.
"The Nevada Court's decision is a wake-up call for our industry," said Arlene Hyde, senior vice president of compliance and management solutions at CoreLogic, in a news release. "Our approach draws upon CoreLogic property and mortgage data and also leverages the company's new CondoSafe national COA database, as well as our document retrieval and recording capabilities."
