New Corporate Transparency Act ruling: What community associations need to know

New Corporate Transparency Act ruling: What community associations need to know

In a unanimous decision, the U.S. Court of Appeals for the 11th Circuit reversed and remanded a lower court’s stay of the Corporate Transparency Act. This decision lifts the order blocking enforcement of the act issued by a district court in March 2024 that paused all reporting requirements. Despite the court ruling, community associations can continue to ignore the act’s requirements to report beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.

Condominium blacklists: Secretive lending questionnaires impacting affordable housing

Condominium blacklists: Secretive lending questionnaires impacting affordable housing

Fannie Mae and Freddie Mac are compiling troubling blacklists that prohibit mortgage financing for entire condominium or housing cooperative buildings. As the blacklists grow, community managers and board members have no knowledge their buildings are on them. When people are unable to buy and sell units in these buildings, property values may be affected.

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