Archive for April, 2010

Mackoul & Associates invites you to join us at The Cooperator’s 23rd Annual Coop and Condo Expo.

Details Below:
The Cooperator’s 23rd Annual Coop and Condo Expo
Tuesday, April 27th
9am to 5pm
Register Now: http://www.coopexpo.com/Register.aspx

The Hilton New York
Rhinelander Gallery, Americas Halls 1 & 2
1335 Avenue of the Americas (& 53rd Street)
Booth 1118, Second Floor

Our own Edward J. Mackoul will be at the advice booth from 1pm until 2pm.

We hope to see you there!

President Edward J. Mackoul was quoted in the February issue of Habitat Magazine in the article titled, “How To Enable Sales & Refi’s,” by Bill Morris.  In this article, Mr. Mackoul comments on the compromised position faced by boards of coops and condos because of stringent requirements demanded by Fannie Mae.

Especially since the global recession, Fannie Mae has become increasingly strict on enforcing insurance guidelines on buildings that many baords are struggling to meet.  Of special concern are the strict ratings standards that a building’s insurance carriers must meet from one of three ratings agencies.  As stated by Mr. Mackoul, “Some buildings have had to switch insurance carriers and they’ve been hit with major premium increases in order to get coverage with a new [Fannie Mae approved] carrier.  As we wait for Fannie Mae to consider changing their guidelines, Mr. Mackoul says, “we are getting calls from Managing Agents saying buyers can’t get loans and shareholders can’t refinance.”

Read Article: http://www.mackoul.com/page.asp?pageID=12

The EPA (Environmental Protection Agency) is enforcing new guidelines requiring, “lead safe work practices to reduce exposure of lead hazards created by renovation, repair and painting (RRP) activities that disturb lead-based paint in target housing and child-occupied housing facilities.” 

Click link for RRP Regulations- www.epa.gov/lead/pubs/renovation.htm

Click link for ABC News Coverage of RRP Regulations- http://abcnews.go.com/Business/wireStory?id=10438913

On Thursday, April 15th, Congress voted to restore jobless benefits for hundreds of thousands of Americans who had lost them during a partisan standoff in the Senate over spending (Insurance Journal).

This bill also reauthorizes the federal flood insurance program until the end of May and restores federal COBRA health insurance subsidies.

http://www.insurancejournal.com/news/national/2010/04/15/109055.htm

http://bucks.blogs.nytimes.com/2010/04/19/flood-insurance-program-is-back-for-now/

Since we are sponsoring the April digital issue of Habitat Magazine, we thought we would give you the opportunity to take a look.

Click here for commentary from our own Edward J. Mackoul and for the April Issue of Habitat Magazine.

Of particular interest is the article on Chargebacks by Frank Lovece.  As a professional advisor on this topic, Mr. Mackoul would be happy to answer any questions on the topic.  Read the article on page 22, and call Ed Mackoul with questions at (516) 9100.