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This article was written by our valued partner Sperlonga. To learn more about the valuable services they provide to community management companies nationwide visit


HOA accounts are reported as Open, Secured monthly obligations, which accurately describe the financial relationship between the homeowner and their HOA. As long as they own a home in the HOA, they have a regular, open account with financial obligation. Sperlonga reports many data points related to each account, in addition to the account and portfolio type, including date opened, balance, payment history and past due amounts, if applicable. 

The credit bureaus have 5 available Portfolio Type codes under which accounts are reported as follows:

C = Line of Credit

I = Installment

M = Mortgage

O = Open

R = Revolving

“Open” is the best match for HOA accounts since the obligation is ongoing, with an unknown end date, as long as the account holder owns the home.

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