General
What is CondoTek?
CondoTek is the modern standard for condo document collection… it is the purpose-built platform and service that modernizes condo document collection for lenders. It handles the tedious work of gathering, validating, and organizing condo documentation, while giving lending teams the visibility and control to move loans toward closing faster.
CondoTek is to condo document collection what credit bureaus are to borrower qualification, and the AMC is to property valuation.
What is CondoPak?
CondoPak is CondoTek’s comprehensive condo document collection service, combining an AI-optimized Data Collection Engine with a Project Management Portal. CondoTek handles the tedious work of collecting, verifying, and organizing documentation, while your team gets full visibility and control to manage the process through a single platform.
Who Uses CondoTek?
Mortgage lenders, banks, credit unions, mortgage companies, correspondent lenders, wholesale lenders, and mortgage brokers that originate condominium loans.
How is CondoTek different from ordering documents directly from an HOA?
Instead of your team spending days chasing down documents from HOAs and dozens of other sources, CondoTek manages the collection process using a purpose-built system designed specifically for condo documentation. Your team retains full visibility and control through the Project Management Portal, allowing them to manage the process while CondoTek handles the tedious collection work.
Does CondoTek replace our internal condo team?
No. CondoTek is designed to support your existing team—not replace it. Your staff manages the review process using the Project Management Portal while CondoTek handles the document collection.
Document Collection
What documents are included in a CondoPak?
Typical packages include governing documents, budget, financial statements, insurance, reserve studies (when available), questionnaires, and other lender-required project documentation.
Can you obtain lender-specific questionnaires?
Yes. CondoTek collects and coordinates completion of lender-specific questionnaires along with the required supporting documentation.
Do you work with management companies, HOAs, and attorneys?
Yes. We coordinate directly with property managers, homeowner associations, board members, attorneys, and other parties involved in providing project documentation.
Do you collect documents nationwide?
Yes. CondoTek supports condominium and cooperative projects throughout the United States.
What happens if documents are unavailable?
Our specialists document what is available, identify missing items, communicate directly with the appropriate parties, and keep your team informed throughout the process.
Process & Timeline
How long does document collection take?
Most CondoPak packages are completed in approximately six business days, although timing depends on the responsiveness of the HOA, management company, and other third parties.
Can I track the status of my order?
Yes. CondoTek provides real-time status updates and project visibility so your team knows exactly where every request stands.
Will I receive updates automatically?
Yes. Automatic email and text notifications keep your team informed throughout the document collection process.
Can multiple team members view the same project?
Yes. Multiple users can access project status, documentation, and historical information through the platform.
Accuracy & Quality
How do you ensure document accuracy?
Every CondoPak undergoes quality control and completeness verification before delivery to help reduce missing documentation and unnecessary rework.
Are documents organized for underwriting?
Yes. Packages are delivered in a standardized, organized format designed to simplify the underwriting and review process.
Pricing
How much does CondoPak cost?
CondoPak offers a transparent flat rate of $495 per project in most states, with $595 pricing in Florida and California. Flexible billing options include borrower-paid, transaction-based, or monthly consolidated billing.
Are HOA document fees included?
Yes. All third-party document fees are inclusive of CondoTek’s fee.
Is there a setup fee?
No. Most lenders can begin using CondoTek without complex implementation or upfront setup costs.
Working With CondoTek
How do I get started?
Simply schedule a demo with our team. We’ll walk through your current process and show how CondoTek fits into your existing workflow.
Do I need to change my current underwriting process?
No. CondoTek fits into your existing process by handling document collection while your team continues managing underwriting and project review.
Can we use CondoTek for only some loans?
Yes. Many lenders begin by using CondoTek for selected condominium loans before expanding usage across their organization.
Technology
What About AI?
CondoTek uses AI, automation, and APIs wherever they improve speed and efficiency—but only when the results can be verified. Currently, AI hallucinates and creates the wrong answers that can’t be verified—banks need “verified,” not “probably.”
When judgment, experience, or follow-up is required, experienced condo specialists take over to ensure complete, accurate document packages.
Does CondoTek integrate with loan origination systems?
Yes. CondoTek offers integration capabilities, including Encompass®, to streamline ordering and workflow.
Can we search previously completed projects?
Yes. Your historical CondoPak projects remain searchable, helping reduce duplicate work on future transactions.
Is my data secure?
Yes. CondoTek uses secure technology and controlled access to protect lender and borrower information.