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Customizable Condo Buyer's Guide Now Available in Spanish
A Spanish version of our customizable Condo Buyer's Guide is now available in our Marketing Center. You can add your logo and contact information and provide an online or print-ready version to potential condo buyers.
Customizable Condo Buyer’s Guide
A customizable Condo Buyer's Guide has been added to the offerings in our Marketing Center. Add your logo and contact information and provide an online or print-ready version to potential condo buyers.
Reduced Fee for Streamlined PERS
We have reduced the fee for the Streamlined Project Eligibility Review Service review of established condo projects from $1,000 to $500.
Project reviews waived for certain Fannie Mae condo and PUD refinances
The Selling Guide has been updated to waive project eligibility reviews on Fannie Mae to Fannie Mae limited cash-out refinances for condos and PUDS.
CPM 6.1 Coming December 3
On Dec. 3, 2016, CPM will undergo user interface enhancements, compliance and security updates, and other changes to improve the user experience.
Selling Guide Updates
The update includes, among other things, an update to the policy on project insurance specific to mortgagee clause.
Selling Guide Updates
The update includes clarifying the requirements for making modifications to single-closing construction-to-permanent loans; update to reflect the changes to the risk factors in DU Version 10.0; policy update on lender self-report obligations related to compliance with laws; clarifying and expanding the options for lenders in calculating student loan payment; adding references to Condominium Project Questionnaires; and other miscellaneous updates and changes.
Condo and Co-op Project Updates
We’re expanding the project review options for established condo projects and providing additional flexibility and some clarifications for co-op project eligibility.
Increased LTV, CLTV and HCLTV Ratios for Limited Reviews of Condo Projects
To enable lenders to serve condo markets more efficiently, Fannie Mae is increasing the LTV, CLTV, and HCLTV ratio requirements for attached condo units in established projects under the Limited Review process to 90% for a principal residence.
Florida Condos Clarification
Selling Guide Announcement SEL-2015-06 includes clarification of the CLTV and HCLTV ratio requirements for project reviews on Florida condos.
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