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Condominium and Common Interest Community Ombudsperson Act

Amendments to the Condominium and Common Interest Community Ombudsperson Act

Pursuant to Public Act 99-00776, amendments were made to the Condominium and Common Interest Community Ombudsperson Act (Ombudsperson Act) on August 12, 2016. The Ombudsperson Act will now take effect on January 1, 2017. The Ombudsperson Act establishes the Office… Continue Reading →

New Standardized Condo Project Questionnaires Provide Greater Consistency & Clarity for Lenders

In an effort to provide greater consistency and clarity for mortgage lenders as they work to collect information to determine eligibility for mortgages secured by units in condominiums, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac recently released two standardized… Continue Reading →

New in 2016: The Condominium and Common Interest Community Ombudsperson Act

In an effort to educate condominium associations, unit owners and common interest groups, while still accounting for the complex responsibilities that accompany those roles, the Illinois General Assembly created the Condominium and Common Interest Community Ombudsperson Act. Effective July 1,… Continue Reading →

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