How much is a CondoPak?

CondoPak™ makes acquiring condo docs easy! Our flat rate creates consistency and transparency for you and your borrowers. The CondoPak™ costs $395 through our self-service signup and portal and INCLUDES any fees for management companies, insurance agents, etc. It is a one-time, flat-rate fee!! You do not need a whole book of usernames and passwords for different 3rd party document portals, and you do not have to coordinate payments to management companies or insurers we do it all for you! Most lenders pass through the cost to their Borrowers, so it costs the lender nothing. Monthly billing options and group pricing are available. Please contact our service department. We would be happy to discuss options that would be the best fit for your organization.

What documents does a CondoPak™ include?
  • Completed Questionnaire
  • Governing Documents (Public Offering, Declaration, Rules & Regs etc.)
  • Current Budget
  • Certificates of Insurance: Liability, Hazard, Fidelity Bond etc. (Mortgagee Clause, Borrower  & Loan Number ADDED to Certificate)
  • Additional Documents If Necessary i.e. Litigation Documents, Attorney Opinion Letter, Reserve Study, Flood Certificate of Insurance
What is I just need a certificate of insurance or I just need a questionnaire and not all the docs in Condopak ?

Unfortunately, we do not provide documents “a la carte”. The greatest efficiency you can create is by using CondoPak™ for all your docs for every condominium. Then you create a one stop resource.

What if my condo reviewer needs additional docs after you provide the Condopak?

No problem! The CondoPak™ is fully serviceable after delivery. If you need additional clarifications or additional docs based on your review, just email service@condotek.com and we will Reopen the CondoPak™ and acquire the additional pieces.

How will I know when the Condopak is completed?

You will receive an email at every milestone during the completion process including a notice of completion.

Why should I order a Condopak when I can just get docs on my own?

Good question! If you want to create convenience, efficiency, and transparency for your condo loans, CondoPak™ is the perfect solution. When your team is using CondoPak™ for all your condo loans it creates a one stop resource for your whole team. Our expert staff know condos, know Fannie and Freddie guidelines, and know exactly what to request and deliver. Let us help you!

How does the review process work?

Lenders place an online review order along with a Condopak order and a Condopak is delivered directly to NCA for project collateral compliance review.

Does NCA warrant the review?

NCA completely warrants their project reviews. A complete outline of our warrant is included in our master services agreement.

How long does a review take to perform?

A Fannie Mae limited review is delivered within 48 hours of document receipt. A Fannie Mae full review is delivered in 5 business days. Rush reviews are available for an additional fee and can be delivered in as little as 24 hours.

Can I track the review process and manage my pipeline with NCA?

Through the project review app a lender can track the delivery of documents to NCA, reviews in process and completed reviews. Completed reviews are available to lenders for 12 months.

Can I upload my own document package instead of ordering a Condopak?

A lender can choose to order a Condopak and have documents delivered directly to NCA for review or upload project documents directly through NCA’s online portal.

Is there a minimum number of reviews that I have to commit to each month?

NCA does not require a minimum number of reviews. Whether you order 1 review or 100 reviews a month you’ll still get the same great service

What separates NCA from the competition?

NCA prides itself on accuracy and speed so our lenders have the ability to close loans quickly and compliantly. We provide unique solutions to our clients to allow them to close loans through various agencies. As an example, if a project isn’t compliant for a Fannie Mae full-review but can be closed via Freddie Mac, we’ll let you know. Our expertise is at your fingertips.