InspectHOA launches Condo Project Review for Lenders
A brand new solution for HOA Documents Acquisition and Condo Project Review empowers lenders to save time and serve their customers more efficiently and timely
InspectHOA has launched Condo Project Review, an innovative new addition to their real estate platform that removes the need to collect and analyze hard to obtain lengthy and convoluted HOA and condo documents. The new product covers two verticals, acquiring HOA and condo documents and ensuring a 100% transparent both limited and full Fannie & Freddie condo eligibility review.
The company is on a mission to give back time to underwriters by acquiring all HOA, Condo, and Co-op documents so they can close more transactions and create happier outcomes for their clients while reducing the risk of transactions falling through. Following the footsteps of InspectHOA’s HOA product, Condo Project Review only needs the property address and a deadline to collect the information, so underwriters no longer have to wait for sellers to fill in lengthy forms.
Condo Project Review provides a fully warranted project review so underwriters can focus on doing what they do best and offer a superior customer experience. The review highlights potential Fannie Mae, Freddie Mac, Federal Housing Administration, and other investor eligibility issues hidden in hundreds of pages of condo documents.
Powered by machine learning algorithms supervised by experts in the field, the platform processes hundreds of pages across numerous documents to create a one-page, standardized and underwriter-friendly summary of approval/denial, which has proven to be crucial to closing deals on time.
“We have seen strong digitalization efforts across the board in the real estate and mortgage industry. To me, it is important that we continue to push for digitization and deliver solutions that help real estate and financial services professionals do their jobs better and more quickly and easily,” says Vishrut Malhotra, InspectHOA’s CEO. “There is so much potential for minimizing risk while offering superior customer service during real estate transactions, and our clients see significant improvements when using technology.”
InspectHOA standardizes and digitizes the document acquisition and analysis process during real estate transactions. The company’s mission is to enable real estate professionals to focus on the personal part of their work by automating repeated manual processes.
InspectHOA was co-founded by Vishrut Malhotra (CEO), Anton Tonev (Chief Revenue Officer), and Atin Hindocha (Head of Operations). The company works with clients like title and escrow companies, lenders, real estate lawyers, iBuyers, and other real estate investors. InspectHOA has a presence in the US, Bulgaria, and India.
This is a huge win for us – so THANK YOU for all you do!"