Simplified Condo Project Data Collection
CondoSafe is a national service for mortgage lenders that gathers condo project data and docs so you don’t have to. This one-stop condo project review tool delivers standardized data and investor eligibility alerts for lending decisions in one easy step. No system integration is required.
- Your choice of comprehensive reports
- Project documents, including Certificate of Insurance and CC&Rs
- Reliable information from standardized association questionnaires
- A flat rate for consistently affordable review projects
- A dedicated resource to do all the heavy lifting so you don’t have to – freeing up valuable resources and saving you time
Why Choose CondoSafe?
In one easy step, get either the CondoSafe report with investor eligibility alerts or the GSE Full or Short Questionnaire along with the association documentation.
Using the industry's first standardized, copyrighted association questionnaire, CondoSafe lets you reconcile conflicting data formats, resulting in increased confidence in your lending.
It's Cost Effective
Eliminate the costly uncertainty of the “chase and place” process with multiple package options. The simple flat rate can be significantly less expensive than obtaining the documents internally.
A Smarter Condo Project Review Solution
Accurate and Consistent Association Data
Faster, More Efficient and Confident Loan Decisions
Underwriter-Friendly Eligibility Alerts
Easy to Use
A simplified web portal makes ordering reports a snap. Simply input the information you have on file, select your products and submit. We’ll take care of the rest!
The most important review criteria appear on the main page to bring investor eligibility challenges to your immediate attention.
Simplified Order Management
Get instant status notifications, easily manage current and past orders, and quickly retrieve your completed orders from your Order Status page.
Now on the CoreLogic Store
Accessing CondoSafe data has never been easier with the CoreLogic Store. Lenders now have full access to existing CondoSafe technology to help manage your workflow and production.
Flexible Product Options
The Limited Review Bundle includes: A CondoSafe Limited Report, Eligibility & Risks Alerts, and Certificate of Insurance
Limited Review Plus
The Limited Review Plus Bundle includes: CondoSafe Full Report, Eligibility & Risks Alerts, Certificate of Insurance
The Full Review Bundle includes: CondoSafe Full Report, Eligibility & Risks Alerts, Certificate of Insurance, CC&Rs, Budget
Ordering Options to Suit Your Business
We offer two different ways to order CondoSafe – designed to suit the individual needs of your business. CondoSafe Express offers a streamlined online signup process, with no contracts or bills to pay. All payments are made via credit cards. CondoSafe Professional is an enterprise-level solution for lenders processing large numbers of condo loans a month. To see what option is right for you, look at the chart below.
|Credit and debit card payments for each order||+|
|Ad-hoc docs only
Order individual ad-hoc docs without a review package
Fannie Mae and Freddie Mac condo forms
View orders placed by team members
|“On behalf of” ordering
Initiate orders and assign to team member
|Customized order screen
Configure ordering options specific to your needs
|Automatic ad-hoc doc ordering
Have additional ad-hoc docs always added to every review package
When would I choose a Limited report instead of a Full report?
A Limited report is typically recommended for established condo projects, lower loan-to-values, and primary residences or second homes. A Full report generally supports new condo projects or established projects with higher loan-to-values, or units that are not purchased as primary residences or second homes.
Can I add an additional document to a bundle order I've already placed?
Additional ad-hoc documents that aren't included in your chosen bundle can be added at the same time you place the bundle order, or any time after - even if the original order is complete.
Can I order just the additional documents?
Yes! We have over 30 additional ad-hoc documents that you can order by themselves when a condo project report is not required.
Why do you have a range of prices for your condo review bundles?
Costs to obtain the condo questionnaire data vary significantly from state to state. We recognize that many of you do business in a concentrated set of areas, some of which may incur lower costs than others. We believe geographic pricing is a fairer approach than "one size fits all."
How long does it take to complete an order?
If we have recent condo project data and documents already available, the CondoSafe report and documents will be delivered shortly after the order is placed. Otherwise, we will request the documentation on your behalf and notify you once each document is available to download until the entire order is complete. We strive to fulfill each order as quickly as possible. Occasionally we may stumble upon some tricky cases that may take a few additional days to complete.
Does CoreLogic offer similar solutions for Co-Ops and PUDs (Planned Unit Developments)?
Co-Ops - Coming soon!
PUDs - The CondoSafe product is designed to support underwriting condominium projects. PUDs have other, less stringent requirements. Therefore, we do not recommend using CondoSafe to support underwriting PUD projects.
Does CondoSafe support site condos and retirement communities with condo deed restrictions?
Site condos - Orders submitted for condo projects consisting of site condos will be fulfilled and include an indicator stating whether the project consists solely of detached condos. The project can then be underwritten in accordance with agency/investor guidelines.
Senior/Retirement communities - Like site condos, orders submitted for condo projects with deed restrictions, such as “55 and better” will be fulfilled and include an indicator stating whether the project has deed restrictions and whether they are age-restricted. The project can then be underwritten in accordance with investor guidelines.
Does CondoSafe keep up-to-date with new guidelines?
Yes. Updates to the guidelines are reviewed, vetted, and incorporated into the CondoSafe questionnaire by the policy effective date.
Does CondoSafe rep and warrant this product?
Given that we do not underwrite the loan, we do not rep or warrant.
Is a system integration required to use CondoSafe?
No integrations are necessary. Order and delivery are completed through a standard web browser.
Which web browsers are supported?
Internet Explorer 11 or higher, Chrome36 and higher or Firefox 33 and higher are all compatible with CondoSafe.
What forms of payment do you accept?
We accept credit and debit cards with the Visa, MasterCard, or Discover logos.
Can I pay using my borrower's credit/debit card?
If you have the borrower's authorization to use their credit/debit card, you can charge the CondoSafe fee directly to the borrower by entering their credit/debit card details in the payment screen and checking a box indicating that the borrower's credit card is being used.