Non-Warrantable Condos

Condo Update – Straight from Fannies list 68 Projects + 3 Not Fully Approved or Denied 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 Village West:26864 Claudette – Critical Repairs or Deferred Maintenance Issues. Also, insurance is an issue.
5. Annadale Condos– Agoura CA – Roof repairs are needed, but there is a lack of reserves and insurance issues!
6. Apple Park – Deferred maintenance – BALCONIES!
7. Arbor Park – Critical repairs or Deferred Maintenance Issues
8. Arroyo Park – Critical Repairs. We have seen others fix critical repairs in approximately 60 days, but we will see what Arroyo Park does.
9. Bouquet Canyon Village – A $50K deductible per unit is naughty!
10. Briarcliff North Townhomes –7435 Shadyglade Ave #2, North Hollywood. This project’s master insurance policy deductible exceeds the allowable limit.
11. Briarcrest – 12720 Burbank Blvd Valley Village – Insurance and repairs
12. Bridgewater, Emeryville - On Fannie’s List!  Insufficient Insurance
13. Brookside Walk – They removed the 5% cap on the deductible for the Insurance, and now they are non-warrantable! Deductible is now too high!
14. Cabrini Villas, Burbank - On Fannie’s List!  Insufficient Insurance
15. Calla and Rowan – 27513 Illumination – Fannie Mae Approval expired – New Construction.  See Blog on 5/7/2024
16. 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.
17. Camelot  – 2396 Pleasant Way, Thousand Oaks – Insurance does not meet the requirements in the selling guide
18. Canyon Oaks – Insurance On Fannie’s List!
19. Casa Marabella – 13951 Sherman Way, Van Nuys -On Fannie’s List!  
20. Cassia and Jasmine  – 26949 Winding Trail Court  – Fannie Mae Approval expired. See Blog on 5/7/2024
21. Cimmaron Oaks – Castaic – Insurance is too low!
22. Creekside – Insufficient Insurance
23. District Community Association – Northridge – Fannie Denied – Insufficient Insurance
24. Encino Oaks – 5460 White Oak Ave – On Fannie’s List!
25. Friendly Valley #5 – Fannie Mae now denies complex for critical repairs and deferred maintenance.
26. Galaxy Whitsett Condos – 6133 Whitsett – Master Insurance Policy does not meet Fannie Mae requirements
27. The Greens At Cascades Hoa 16431 W Nicklaus Dr, Sylmar CA 91342 -This project’s master insurance policy coverage does not meet the requirements.
28. Granada Plaza – 16940 Chatsworth Street – Project in need of critical repairs. 10% of HOA Dues are not going to Reserves
29. Heather Ridge – Deductible too high, not enough insurance – Fannie Naughty List!
30. Heathercliff Manor Hoa – 15946 Vanowen Street, Van Nuys, CA 91406 – This project needs critical repairs and may have material deficiencies and significant deferred maintenance.
31. 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).
32. Liberty Canyon HOA – 27409 Country Glen Road, Agoura Hills, CA- On Fannie’s List!
33. 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.
34. Madison at Town Center  – Litigation – We can do with 5% down, but others can’t!
35. Magnolia Manor – 12416 Magnolia – Lots of issues from Insurance to repairs.
36. Mariposa: On Fannies List. Per Fannie Mae – This project’s master insurance policy coverage does not meet the requirements.
37. Market Street Community –  Corona – No Wildfire coverage
38. Mesa Vista North Townhomes  – San Juan Capistrano – 50K deductible per unit is naughty!
39. Oak Park Calabasas – 4752 Park Granada, Calabasas, CA 91302- This project’s master insurance policy deductible exceeds the allowable limit.
40. Old Orchard Condos 23515 Lyons Ave – Unfunded repairs
41. Orchid at Valencia – 27033 Open Sky Place – Fannie Mae Approval expired  See Blog on 5/7/2024
42. Pallisades – Stevenson Ranch – Insurance and reserves are the issue there!
43. 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.
44. Portofino Villas – 12411 Osborne – Master Insurance is Unacceptable
45. Rainbow Sierra Terrace Owners – 19826 Sandpiper Place – Insurance coverage, Excess deductible
46. 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.
47. 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.
48. 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.
49. Seco Villas – Insurance Deductible is too high!
50. Shadow Ridge – Oak Park – Insurance -On Fannie’s List!
51. 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.
52. Solstice South – They let their Fannie Mae approval expire, therefore they’re no longer Fannie Mae approved.
53. Sonterra Condominiums  – 15425 Sherman Way  – one entity owns 61% of the condos. They are not eligible for conventional or Government financing!
54.  Stratford Collection  – Brighton drive Valencia CA 91355   - Insurance Issues
55. St. Tropez Condominium Association:** 175 Montara Drive Aliso Viejo CA 92656 – Critical Repairs or Deferred Maintenance
56. Tara Village Homeowners Association – 18350 Hatteras St, Tarzana, CA 91356 – This project’s master insurance policy coverage does not meet the requirements.
57. The District Community Association – 19533 Cardigan Dr, Northridge – On Fannie’s List!
58. 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.
59. Treana - Stevenson Ranch: On Fannie’s List Per Fannie, this project needs critical repairs and may have material deficiencies and significant deferred maintenance.
60. Tyler Villas – Sylmar – Coverage is good but non-warrantable for delinquencies
61. 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.
62. Village Park Condo – It’s over the max deductible with that 50k per unit.
63. Walnut Gardens II – 7320 Lennox Ave Van Nuys CA – On Fannie’s List!
64. Warner Center Condos – 5515 Canoga Ave, Woodland Hills, CA –This project’s master insurance policy coverage does not meet the requirements.
65. Warner West Condominium Association, Inc. – 22100 Burbank Blvd, Woodland Hills CA 91367 This project’s master insurance policy does not comply with Selling Guide.
66. 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!
67. 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.
68. 15245 Sherman Way – more than 25% of the units are owned by one entity

Neither approved nor denied. Not Fully Approved

1. Princessa Estates – We have been informed that this is no longer considered a naughty condo, so we will categorize it as ‘buyer beware’.
2. Valle Di Oro – We have been informed that this is no longer considered a naughty condo, so we will categorize it as ‘buyer beware’.
3. Las Ventanas – We have been informed that this is no longer considered a naughty condo, so we will categorize it as ‘buyer beware’.

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