Do You Have Questions?

A list of frequently asked questions to help you understand how it works.

Who is Axela Technologies?

Axela Technologies specializes primarily in collection-related services for community associations. Our propriety platform pulls from various data sources which provides extensive insight into the state of a community association’s financial position. This information cannot be ascertained from the standard financial reports provided by the manager or association accountant.

What type of information can you provide a bank that cannot be obtained from standard financial reports?

Our reports break down the following data on a per-unit basis: estimated market value, original mortgage amount, mortgage date, estimated outstanding mortgage balance, assessment balance, assessment aging, loan-to-value, last sale date, last sale amount. This information can then be easily sorted or manipulated to meet the needs of the recipient.

Can we receive a sample of the reports that you provide?

Yes.

Why would this information that you provide be beneficial in a risk analysis for a community association loan?

We believe it is crucial for a lender to determine whether a Condo or HOA has adequate cash flow to service the proposed loan. Community Associations that have a large percentage of units with limited  or no equity  present an important risk to the lender. Less equity means more risk of unit owners not paying their special assessments and associations being unable to pay their obligations on time. Also, it is important to see the acceleration in sales of a building to see if owners have been selling and departing the property. This is a red flag that lets a borrower know when a property may be failing and knowing the price fluctuations is critical to ascertaining the risk involved.

What is the cost of this service and what is the time frame in getting the report?

The very first report for a single lender is provided at NO COST. We want to earn your business.  After that we charge $1.00 per unit (minimum $250.00) for these reports. The reports can be generated and delivered within 48 hours upon request and payment.