No. A Fully-Funded Life Expectancy Set-Aside includes funds only for the property charges that will be paid directly by the mortgagee from the Set-Aside: real estate taxes, hazard insurance and, if applicable, flood insurance.
Homeowners Association (HOA), Planned Unit Development (PUD), and condominium fees and other assessments must be paid directly by the borrower from the borrower’s own funds.
For additional information see Mortgagee Letter 2016-10 and the attached revised HECM Financial Assessment and Property Charge Guide, Section 5.2 at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee