Homeowners' Association (HOA)

An entity formed to manage the day-to-day operation and long term interests of residential dwelling communities, including condo, co-op, and PUD projects. The HOA is typically created and vested with specific roles, responsibilities, and rights by the project’s legal documents in compliance with applicable laws. For Fannie Mae’s purposes, the term “HOA” includes a homeowners’ association, a common interest community association, a cooperative corporation, and other similar entities.

A homeowners' association (HOA), is typically formed to manage shared expenses such as landscaping and other maintenance costs for a planned subdivision or other organized