Loan Modification

The National Association of Realtors (NAR) and the American Land Title Association (ALTA) have joined forces in an effort to shut down private transfer fee funding for non-profits, homeowner associations and developers.

Private transfer fees (also called capital recovery fees and home resale fees) have been around for decades and have largely been used to fund homeowner associations, condominium associations and non-profits. More recently, developers of both residential and commercial projects have turned to transfer fees as a way to spread development costs, reduce negative equity and re-start failed projects.