By Rafael Aquino

Published June 24, 2020  

One of the biggest challenges that we must pay very close attention to is how the mortgage forbearances will impact our communities? The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance increased from 8.53% of servicers' portfolio volume in the prior week to 8.55% as of June 7, 2020. According to MBA's estimate, almost 4.3 million homeowners are now in forbearance plans. According to CoreLogic, out of the ten large metropolitan areas in the US, Miami had the highest rate (5.2%) of mortgages at least thirty days past due.   

 These numbers are alarming because, at the moment, associations may only see a small uptick in delinquencies; however, that could be a cover-up because of the forbearance program. We need to be asking ourselves, what will happen with the forbearance program is exhausted? Will those same owners decide to stop paying the association? What will happen if the recovery takes longer than expected?

As an organization, we are already taking steps to help our clients plan accordingly. Depending on the client and its resident type, we are making specific recommendations to either amend their current budget or preparing their 2021 budget for the potential impact. Some of the steps we are taking are as follows:


  1. Collection Policy: Start following the steps outlined within the documents. Further, we are making courtesy calls to those owners that are falling behind and what steps can be taken to get them back on track. 
  2. Bad Debt Line Item: This line item is used to cover for those owners who are not paying. Depending on the association, we are recommending adding 3% - 10%.
  3. Covid-19 - Adding a line item for all expenses related to Covid-19. We want to be transparent with our residents and reflect any cost increases. 
  4. Tech/Innovation - Looking at services that we can automate to help reduce costs, such as online voting, automated attendants, etc.
  5. Insurance – Increases are coming and budgets must be adjusted for it.


There are other specific areas we are looking into; however, it is based on the particular client. If you'd like to know more, don't hesitate to contact me. I will recommend not falling into the trap of doing nothing because you'll end up paying for it heavily in the future. It would be wiser to confront the situation head-on and communicate your actions and reasons with your members.

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As the Co-Founder and CEO of Affinity Management Services, Rafael P. Aquino leads his team to redefine excellence. They serve community   associations   efficiently

and effectively with dedication and passion. Rafael’s energy and positive spirit is the foundation of Affinity Management Services’ company culture, which instills enthusiasm and excitement when providing expert advice to its board members and relieving the day-to-day burdens of running a community association.


Since 2007, Rafael has developed a work culture that values responsive and high-quality services. He has led his team by following a proactive vs reactive philosophy. The same approach Rafael instills in the day to day operations of each association. Today, Affinity Management Services maintains its success and benefits as a result of the foundation Rafael has built and continues to foster by providing educational seminars, continuing education classes for association managers and board members alike.

Rafael and his team help condominium and homeowners’ associations save money and improve their communities. His calm, personable, and service-oriented nature helps him to establish strong relationships with ease. Rafael is known as a sincere and honest leader who looks out for the best interests of his clients and communities, and he strongly advocates for their needs. His role requires coordination and communication, as such he takes logical and intelligent steps to approach challenges head-on.

As a graduate of Florida International University’s electrical engineering program and a licensed community association manager, Rafael’s education and skills equip him with unique insights to tackle complex problems through critical thinking. He understands how each component within a system works together in order to effectively arrive at solutions, techniques, and conclusions. Therefore, as he manages the multiple challenges of running a community association management company, he understands how each property is its own unique system and tailors’ specific services to assure that all their needs are met.

For more information about Rafael P. Aquino and Affinity Management Services please visit or call 1-800-977-6279

Doral Office: 8200 NW 41st ST

Suite 200

Doral, FL 33166

Broward Office: 150 S Pine Island RD Suite 300

Plantation, FL 33324

O: 800-977-6279 ● F: 305-325-4053

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