Sperlonga, Equifax to record HOA payments for credit scores | 2016-05-04 | HousingWire:
"Sperlonga will use its technology to automatically extract assessment payment data and account status every month for all HOA property owners, according to a release. It will then report the account data to Equifax.
"We believe this will have a major impact on the HOA industry," Sperlonga CEO Dan Berman said. "According to the Community Association Institute, associations along with property management companies collect approximately $70 billion in assessment payments each year and CAI estimated there were at least 333,000 community associations in the U.S.""
Nobody knows how much HOAs and condo associations collect because government has washed its hands of any responsibility for this massive privatization of services and infrastructure. But in any event, now people who fall delinquent on their HOA assessments will have a problem with their credit rating.