Dallas, TX—March 1, 2021— Associa , the industry’s largest community management company, recently announced the launch of Associa Financial Solutions, Inc., a newly added client service designed to assist association boards in managing the HOA loan process from loan application through closing.
Just as each association is unique in its needs, each lender is unique in its lending process. Dedicated to providing continuity during the lengthy loan process, Associa Financial Solutions was created to act as a liaison for community managers, boards, banks, and attorneys, providing timely results and frequent updates to all stakeholders. Associa Financial Solutions helps users determine the appropriate lender, complete loan applications, collect supporting documents, submit loan application packages, secure legal opinions, facilitate the loan closing, and provide wire transfer training. The service saves community managers and board members the time of researching lenders, completing the loan application, and compiling the documents to submit the application. Associa Financial Solutions makes sure the loan request meets the specific project needs and communicates directly with construction teams, contractors, and community managers to discuss project funding.
Because many banks do not have the capability to lend to homeowners’ associations, Associa Financial Solutions has established relationships with partner banks and outside lenders who specialize in HOA loans, maintaining close communication with these partners throughout the loan application process.
“The loan application process can often be cumbersome and time consuming. Securing an HOA loan, adhering to lending laws and regulations, and managing an association’s governing documents requires strict attention to detail,” stated Shannon Streenz, Associa senior vice president of client service operations. “In the same way an association may need an attorney to assist with legal matters or an expert to advise on their insurance coverage, associations also need expert guidance on the funding options available to them. Associa Financial Solutions has that expertise and is equipped to help communities find the most affordable and best option for their funding needs.”
With more than 200 branch offices across North America, Associa delivers unsurpassed management and lifestyle services to nearly five million residents worldwide. Our 10,000+ team members lead the industry with unrivaled education, expertise and trailblazing innovation. For more than 40 years, Associa has provided solutions designed to help communities achieve their vision. To learn more, visit www.associaonline.com.
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