Monthly Regulatory Compliance Change Management Summary

The March Regulatory Compliance Change Management Summary is linked for your reference.

This month’s Regulatory Compliance Change Management conference call will take place on Thursday, April 30th at 3pm EST.

To register for the monthly call, please email compliancechgmngt@cenlar.com. For your convenience, the session will be recorded and made available to clients who are unable to attend.  If you registered for a call in the past, you will be automatically registered for this call and do not need to register again.

Any questions related to the monthly summary, overview process, or specific regulatory change items can be sent directly to compliancechgmngt@cenlar.com.

The Compliance Department will respond within two business days of receipt (excluding weekends and holidays).

There are currently no items showing as ‘Out of Compliance’ (effective date has passed and we are beyond our standard implementation timeframe) on our March report.

Noteworthy Items:

  • Q5776 New York SB 4182 HOA/Co-op Fees (Effective 8/14/2019):  – The state of New York has amended its Real Property Acts Law related to inspecting, securing, and maintaining vacant and abandoned residential property. New York now requires that homeowners association or cooperative fees be paid as needed to maintain the vacant and abandoned property. This item was re-opened to address 1308(4)(k): pay homeowners’ association or cooperative fees as needed to maintain the property. Our business units are following our regulatory change management process to implement.