National Condo Advisors

National Condo Advisors brings condominium and cooperative developments into compliance with agency and lender guidelines so that mortgage lending can be accessible to borrowers and warrantable by lenders. We’re experts in alignment, review, planning, submission and approval of condominium and cooperative developments.

Coop/Condo Project Approval Made Easy

 

We've made project approval surprisingly simple in 7 Easy steps:
 

 

  1. Tell us about the condo/co-op development
  2. We'll outline a path for compliance and approval
  3. We're hired
  4. We collect all necessary documentation and provide guidance to get compliant
  5. We underwrite the project
  6. We prepare a project review package
  7. Project is submitted and approved

 

Here's what you'll need to get started:


 

 

  • Condo/co-op Name
  • Condo/Co-op Type
  • Property Address
  • Number of Units
  • Approval/Compliance Needed

Lender

  • Close on condo and co-op loans quickly. We provide compliant reviews in as little as 24 hours so that your loans can get to the closing table quicker. Call us to enroll in our lender compliance process.
  • National Condo Advisors provides a more efficient way to review condo and co-op projects.
  • We’re insured
  • We’re staffed with credit policy experts, former agency employees, engineers and legal professionals
  • We’re experienced
  • We’re quality control experts

FAQS

How do I submit a development for approval?

Call us or email us at info@nationalcondoadvisors.com. We’ll handle everything from document collection to agency submission.

How do I know what type of approval works best for my condo/co-op development?

We offer a range of approvals that are specifically tailored to meet the needs of the borrowers within each development. Our team of compliance experts will not only let you know which type of approval is available for the site but will also let you know which fits the site best.

Why do I need a project approval for a condo/co-op development if the purchase price for the units exceeds Fannie Mae maximum loan limits?

 At National Condo Advisors we offer a suite of approval products. In developments where a Fannie Mae approval isn’t warranted we offer a portfolio lender approval and a Fannie Mae Compliance service so that lending is always available and abundant. Agency and/or lender compliance is necessary for mortgage lending to be available within a condo/co-op development regardless of unit value.

 

Can a reserve study reduce the agency required 10% budget line item?

A reserve study will outline the actual cost of component repair and replacement. It often results in a reduced contribution. In new construction condo developments, a reserve study can serve to reduce reserve requirements by more than 90%!

 

I’m a lender and I’m looking for a firm to handle condo and co-op reviews. Can you handle the entire process?

In fact, we currently service lenders across the United States and serve as their entire condo/co-op back office. We review and can warrant projects for Fannie Mae/FHA/Freddie Mac compliance.

 

Our organization needs staff training on very specific issues and none of the course listings on your website provide exactly what I need. Do you create custom training packages?

Absolutely.  Our team of industry experts would be happy to develop a custom training sessions for individuals or entire organizations, tailor made to your agency, issue, or other specific criteria needs.  All of our training courses and custom training packages can be provided on-site and in-person, or via the internet in an interactive webinar format.  Please contact us by phone or by email to speak with one of our education and training specialists to arrange for custom training.

Fully insured

  • A comprehensive suite of insurance policies, including Commercial General Liability, Errors & Omissions in the amount of $2 Million per occurrence, and additional Umbrella Insurance up to $3 Million per occurrence
  • Industry standard & insurer approved Quality Control Policy & Procedure
  • Lender approved Information Technology & On-Site Security Policy, including data storage and transmission software certified to meet ISO 27001 & 27018 standards, backed by SOC 3 and SSAE 16 security assurance reports
  • Comprehensive Business Continuity & Disaster Recovery plan built around a wholly modular & portable office environment designed to ensure that all key staff servicing your account are easily accessible even while traveling, and that normal business operations are not disrupted for any longer than 48 hours in the event of most disasters or other events
  • All insurance policies and internal operations procedures are reviewed and updated on a regular basis to ensure the highest level of service

Submit a request:

What services are you interested in?

Company Bios

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Gary Newman

Former Fannie Mae Director of Project Review, Gary Newman, leads the Fannie Mae condo training group in his role as National Fannie Mae Condo and Co-op Compliance Educator.

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Darlene Shannon

Former HUD Homeownership Center Technical Branch Chief, Darlene Shannon, joined the National Condo Advisors team in 2015 after retiring from government service. Mrs. Shannon excels in her new role as Chief Business Development Officer where she is able to interact with lender, developer and property management clients. Mrs. Shannon also acts as National Condo Advisors’ FHA Condo Educator where she helps lenders navigate FHA project approval processes, orchestrates the creation of lender DELRAP and HRAP set up and provides project and quality control review.

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Orest Tomaselli

In his role as President and CEO of National Condo Advisors, Orest provides lenders with 20 years of mortgage industry compliance knowledge, customized guidance on condominium and cooperative origination and review policies. Orest has lectured nationally and provided guidance to Fannie Mae, HUD, the New York State Attorney General’s Office, the New York State Bar Association and the Mortgage Bankers Association.

Our affiliated firms. Here to help you with all real estate and lending compliance needs.

Strategic Inspections, LLC

We provide custom inspection services for Condominium, Cooperative, Commercial and Residential Properties.

Strategic Inspections, LLC, is the industry leader in providing solution-based engineering services tailored to the unique needs of any property.

Our blended engineering, architectural, finance, and legal expertise provides our clients with global solutions to the challenges that are encountered in complying with agency lending and insurance requirements. Our expertise lies in our ability to provide unique and custom solutions for owners, managers, developers and lenders.

New Construction-Pre-Construction- Established Split Reserve Studies-Agency Compliant

 

Strategic Inspections, LLC

Everything co-op. Co-op compliance delivered from origination through closing and loan delivery.

 

National Property Group Advisors, INC

National Property Group Advisors real estate investment, finance, engineering, and development professionals here to help our clients navigate the commercial real estate waters. Our mission is to align your long-term real estate strategy to meet all of your investment goals.


Brokerage Services

  • Investment Properties
  • Real Esate Portfolio Valuation and Disposition
  • Institutional Properties
  • Project Development
  • Multi-family, Retail, Office & Hospitality

Equity And Debt Capital Advisory And Placement

  • Debt & Structured Finance
  • Equity Placement (Corporate & Property Joint Venture)
  • Joint Venture and Structured Capital

Construction

  • Construction Management
  • Pre-construction services
  • Project Planning
  • Construction and Scheduling
  • Cost Estimating
  • Quality Management
  • Contract Administration
  • Safety Management