Code Violation Services launches HOA platform
Code Violation Services Inc. launched a new platform called HOA Plus to help investors, lenders and others locate homeowner associations and resolve property demands to reduce barriers to property sales. "In most of these cases, simply finding out if a property is affected by an HOA — or even multiple HOAs — is half the battle," says Rudy Krupka, CEO of Windsor, Colo.-based Code Violation Services. "The next challenge is obtaining the actual HOA contact and demand information, which is like looking for a needle in a haystack," Krupka said." Our new HOA platform is a one-stop, hassle-free resource that provides these answers quickly and efficiently." HOAs in 16 states and the District of Columbia, hold "super lien" status, which means liens placed against a property by an HOA take precedent over all other liens. If the liens are recorded, title or escrow companies can obtain information via public records. But sometimes HOA demands and violations are not recorded and transfer with the property, making it difficult to sell, Code Violation Services said. The company said its service goes beyond a database with HOA contact information. It determines whether an address has an associated HOA, verifies contact information, identifies specific demands, provides collection information, and enables the secure transfer of documents. The company said it also offers an a-la-carte approach to its HOA services with the understanding that not every client requires all HOA-related services. Its service was among a host of technology offerings unveiled at the annual Mortgage Bankers Association conference on Monday. Earlier this year, an asset management firm in Arlington, Va., Matt Martin Real Estate Management formed Sperlonga Data and Analytics to offer a no-cost service to HOAs, condo associations and other community associations who can register their HOA data to facilitate connections with lenders and mortgage servicers to resolve outstanding association fees. Write to Kerry Curry. Follow her on Twitter @communicatorKLC.