AC-001 Various Credit Updates
FLCBank would like to inform you of various credit updates taking place on Conventional and Government loans.
Freddie Mac Condominium Requirements
Freddie Mac published an updated policy for condominium requirements via Bulletin 2021-38 on December 15, 2021, announcing revised temporary condominium requirements. These changes are similar to the updates announced by Fannie Mae Lender Letter 2021-14 regarding projects with significant deferred maintenance, critical repairs, and special assessments. These policies are effective immediately and projects utilizing LPA must comply with these requirements.
AUS for Government Loans (FHA/VA)…..