Condo Project Eligibility – Conventional
Fannie Mae provided additional guidance via Bulletin SEL-2020-06 for Condominium Projects with Ineligible characteristics. These new requirements apply for loan applications dated on or after December 7, 2020.
Lenders must confirm project eligibility regardless of the Condominium Project Review type being completed including projects already approved if the loan application date is prior to December 7, 2020.
Click below to read the full bulletin.