Non-Warrantable Condos

Condo Update – Straight from Fannies list – 57 Projects

Condo / Townhome – issues we know of now Properties can be financed with 10% down and are considered NON-WARRANTABLE:

1. Acacia Village Homeowners Association – 147 W Acacia Ave, Glendale, CA 91204 – This project needs critical repairs and may have material deficiencies and significant deferred maintenance.
2. Aldea Community Association – 11318 Paseo El Sol, Porter Ranch, CA 91326 – This project’s HOA or co-op corporation (or project sponsor or developer) is a named party to pending litigation that relates to the safety, structural soundness, habitability, or functional use of the project.
3. American Beauty Condos - The brown ones - Insurance: 50 Million in coverage for 748 units is not nearly enough!
4. American Beauty Gardens: 19% delinquency on special assessments due 19% are 60 days or more late We can do with 5% down, but others can’t!
5. American Beauty Village West: On Fannie’s List Per Fannie, this project needs critical repairs and may have material deficiencies and significantly deferred main entrance condition. his project’s master insurance policy deductible exceeds the allowable limit.
6. Bella Ventana -A  $50,000 deductible per unit is naughty.
7. Bouquet Canyon Village – A $50K deductible per unit is naughty!
8. Briarcliff North Townhomes –7435 Shadyglade Ave #2, North Hollywood. This project’s master insurance policy deductible exceeds the allowable limit.
9. Briarcrest – 12720 Burbank Blvd Valley Village – Insurance and repairs
10. Bridgewater, Emeryville - On Fannie’s List!  Insufficient Insurance
11. Brookside Walk – Insufficient Insurance
12. Cabrini Villas, Burbank - On Fannie’s List!  Insufficient Insurance
13. Calla and Rowan – 27513 Illumination – Fannie Mae Approval expired – New Construction.  See Blog on 5/7/2024
14. Cameo Woods HOA - Per the litigation disclosure, the association is being sued by a homeowner for water heater damage and discrimination, and the damage is still ongoing. e received confirmation that the HOA’s insurance agency is not covering the lawsuit, and the claim was denied due to the nature of the complaint.
15. Canyon Village – Reserves and 10% of the dues not going to reserves!
16. Canyon Oaks – Insurance On Fannie’s List!
17. Casa Marabella – 13951 Sherman Way, Van Nuys -On Fannie’s List!  
18. Cassia and Jasmine  – 26949 Winding Trail Court  – Fannie Mae Approval expired. See Blog on 5/7/2024
19. Cimmaron Oaks – Castaic – Insurance is too low!
20. Cornerstone – Insurance -On Fannie’s List!
21. Creekside – Insufficient Insurance
22. District Community Association – Northridge – Fannie Denied – Insufficient Insurance
23. Encino Oaks – 5460 White Oak Ave – On Fannie’s List!
24. The Greens At Cascades Hoa 16431 W Nicklaus Dr, Sylmar CA 91342 -This project’s master insurance policy coverage does not meet the requirements.
25. Heather Ridge – Deductible too high, not enough insurance – Fannie Naughty List!
26. Heathercliff Manor Hoa – 15946 Vanowen Street, Van Nuys, CA 91406 – This project needs critical repairs and may have material deficiencies and significant deferred maintenance.
27. Independence Hall – 8801 Independence Ave, Canoga Park, CA 91304 – This project needs critical repairs and may have material deficiencies and significant deferred maintenance. This project has unfunded repairs costing more than $10,000 per unit that should be undertaken within the next 12 months (does not include repairs made by the unit owner or repairs funded through a special assessment).
28. Liberty Canyon HOA – 27409 Country Glen Road, Agoura Hills, CA- On Fannie’s List!
29. Lindley Park Plaza 5500 Lindley Ave Unit 111, Encino, CA 91316 – This project needs critical repairs and may have material deficiencies and significant deferred maintenance. The units in this project are subject to a current or planned special assessment intended to cover the cost of critical repairs, and all necessary repairs have not been fully completed.
30. Madison at Towne Center  – Litigation – We can do with 5% down, but others can’t!
31. Magnolia Manor – 12416 Magnolia – Lots of issues from Insurance to repairs.
32. Mariposa: On Fannies List. Per Fannie Mae – This project’s master insurance policy coverage does not meet the requirements.
33. Market Street Community –  Corona – No Wildfire coverage
34. Mesa Vista North Townhomes  – San Juan Capistrano – 50K deductible per unit is naughty!
35. Oak Park Calabasas – 4752 Park Granada, Calabasas, CA 91302- This project’s master insurance policy deductible exceeds the allowable limit.
36. Orchid at Valencia – 27033 Open Sky Place – Fannie Mae Approval expired  See Blog on 5/7/2024
37. Penn Court Homeowners Association, Inc. – 4201 Pennsylvania Ave, La Crescenta, CA 91214 This project’s HOA or co-op corporation (or project sponsor or developer) is a named party to pending litigation related to the project’s safety, structural soundness, habitability, or functional use.
38. Princessa Estates – insufficient reserves
39. Royal Vista Court – 10290 Tujunga Cyn Blvd – This project’s HOA receives >10% of its budgeted income from the active ownership and operation of non-incidental amenities or services made available to unit owners and the general public.
40. Sand Hill Condominiums Homeowners Association – 8221 Langdon Ave Van Nuys – This project’s master insurance policy coverage does not meet the requirements in the Selling Guide.
41. Scenic Hills – Insurance – On Fannie’s list!  This project’s master insurance policy coverage does not meet the requirements in Selling Gu de Sec. B7-3-03, Master Property Insurance Requirements for Project Developments.
42. Shadow Ridge – Oak Park – Insurance -On Fannie’s List!
43. Sherman Way Condos – 17900 Sherman Way Reseda – The number of units in this project owned by one or more single entities exceeds the maximum allowed.
44. Tara Village Homeowners Association – 18350 Hatteras St, Tarzana, CA 91356 – This project’s master insurance policy coverage does not meet the requirements.
45. The District Community Association – 19533 Cardigan Dr, Northridge – On Fannie’s List!
46. Tolucan Villas – 10740 Moorpark St, North Hollywood, CA 91602 – The number of units in this project owned by one or more single entities exceeds the maximum allowed.
47. Treana - Stevenson Ranch: On Fannie’s List Per Fannie, this project needs critical repairs and may have material deficiencies and significant deferred maintenance.
48. Tyler Villas – Sylmar – Coverage is good but non-warrantable for delinquencies
49. Valle Di Oro is on Fannie’s List! Per Fannie Mae, this project contains timeshare, fractional, segmented, or split ownership units or other arrangements (such as mandatory rental pooling, shared interest apartments, or community apartments) restricting the unit owner’s ability to occupy the unit.
50. Villa Valencia Homeowners Association – 6226 Nite Avenue, Woodland Hills, CA 91367 – This project’s HOA or co-op corporation (or project sponsor or developer) is a named party to pending litigation that does not meet the “minor matter” definition.
51. Village Park Condo – It’s over the max deductible with that 50k per unit.
52. Vista Del Canon – Insurance is too low, UGH!
53. Walnut Gardens II – 7320 Lennox Ave Van Nuys CA – On Fannie’s List!
54. Warner Center Condos – 5515 Canoga Ave, Woodland Hills, CA –This project’s master insurance policy coverage does not meet the requirements.
55. Warner West Condominium Association, Inc. – 22100 Burbank Blvd, Woodland Hills CA 91367 This project’s master insurance policy does not comply with Selling Guide.
56. West Creek Condos and Townhomes: On Fannie’s List Per Fannie, this project’s master insurance policy coverage does not meet the requirements in the Selling Guide!
57. Hoyt Village LLC – 26 units, and 14 are owned by one entity!   –13801 Hoyt St, Pacoima CA 91331- The number of units in this project owned by one or more single entities exceeds the maximum allowed under the Selling Guide. More than 15% of the units in this project are 60 days or more past due on their HOA fees/common expense assessments. The number of units in this project owned by one or more single entities exceeds the maximum allowed.

Please let me know if you hear anything new on condos or townhouses.