The Project Eligibility Review Service (PERS) is a review method available to lenders to submit project information to Fannie Mae for eligibility review. The use of PERS is required for the review of certain projects.
Condo Project Manager™ (CPM™) supports the CPM Expedited Review process for condo projects. CPM is an easy-to-use, Web-based system that provides lender-specific project eligibility decisions for all condo projects, except those projects that require a PERS review.
The Special Approval designation applies to certain established projects located in Florida. Lenders must use Special Feature Code 156 for delivery of loans secured by units in condo projects with a Special Approval designation. In addition, lenders must deliver project review code Type T – Fannie Mae Review.