The June 5 Selling Guide publication initially omitted a bullet related to projects operating as a hotel or motel, but the text has been corrected. Refer to Selling Guide B4-2.1-03, Ineligible Projects, to read the full, corrected copy.
We’ve made it easier for lenders to originate condo loans by simplifying our requirements and adding more flexibility to our policies. These changes respond to lender feedback and align with industry standards.
Condo Project Manager™ (CPM™)
CPM can help lenders quickly and easily certify
a condo project.
Customizable Condo Buyer's Guide
Support your outreach needs with this Guide,
now available in our
Step 1: Determine a Condo Project Review Type
Step 2: Follow the Condo Project Review Type Requirements
Step 3: Confirm the Condo Project Insurance Requirements
Get the details: At-A-Glance: Condo Project Review and Insurance Requirements
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.
The first course provides a beginner-level overview of condo projects and eligibility, while the second provides step-by-step guidance for using Condo Project Manager.
The GSEs have developed standardized Condo Project Questionnaire forms (1076/1077). Although optional, these forms are encouraged as they provide lenders a clear and consistent approach to collecting information from HOAs regarding condo projects.