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  • Description
    The regulations and processes for condominium eligibility with regards to loans are vast, complex and often ill-understood. Moreover, the differing requirements of Fannie Mae and the Federal Housing Administration (FHA) can further complicate matters. This CLE course will clarify all with a comprehensive look at agency eligibility, legal requirements, commercial space thresholds, FEMA requirements and the limits to investor ownership.
  • Instructor Bio

    Orest Tomaselli

    Orest Tomaselli, Chief Executive Officer of National Condo Advisors, LLC, has over 20 years of experience with nationwide condo project approvals and nationwide FHA, Fannie Mae and VA lending. He is an expert in new construction financing, residential financing, condominium and cooperative project approval guidelines and strategic liquidation planning. He has consulted nationally on thousands of condominium and cooperative developments and has lectured for national lenders, hedge funds, law firms, HOA management and developer consortiums and has lectured for the New York State Bar Association and New York Attorney Generals Office. National Condo Advisors, LLC, provides nationwide condominium project approval service. Comprised of real estate finance and legal professionals, National Condo Advisors provides guidance to builders, developers, homeowners’ associations, institutional investors, lenders, and real estate firms. NCA’s range of services include full consultations and submission of projects to FHA, FNMA, VA and private portfolio lending institutions for condominium and cooperative project approvals, limited reviews to resolve specific compliance problems, and providing a path to obtaining end-loan financing for its clients. NCA's affiliated engineer firm, Strategic Inspections, LLC, provides project approval and lender required engineering reports for condominium and cooperative developments specifically tailored to meet agency compliance guidelines. SI’s range of services include agency required reserve studies and noise studies, as well as transition studies and submitting projects to FEMA for removal from flood zones for eligible real estate.