Condo’s

FHA New Condominium Section of Handbook 4000.1, FHA Info #19-34, Effective October 15, 2019. NEW CHART – FHA Condominium Project Approval Requirements

Written by: Tracey Rumsey, Staff Writer Big changes on the FHA Condominium front. If you work with condominiums, this is a must STUDY article as well as the other article published this month regarding the process for FHA Spot Approvals. Rule Synopsis: Case numbers assigned on or after October 15, 2019 and/or Condominium Project Approvals [...]

2019-09-09T15:58:21-05:00September 10th, 2019|

Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that [...]

2019-07-09T10:50:39-05:00July 10th, 2019|

Fannie Mae Issues Updated Fact Sheet(s) for their PERS Process – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Condominium approvals are not for the faint of heart. In this update, Fannie Mae give you some tips to make the complex less complex. Rule Synopsis: Fannie Mae has updated their PERS Eligibility Overview and “Getting Started” Guide. The “Getting Started” Guide outlines the process of collection of documents [...]

2019-06-07T14:08:54-05:00June 10th, 2019|

Fannie Mae-Combined FAQ and Fact Sheet Article – Project Standards Requirements FAQ’s – Updated June 2018 – Ineligible Condo Characteristics – Updated June 2018 and At-a-Glance Condo and Insurance Requirements – Updated June 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae is really pumping out the resources to help you do more condo loans and educate you on their dramatic changes. Anyone who has condos in their origination area needs to pay attention to this update and the update from Freddie Mac this month! Rule Synopsis: Due to multiple [...]

2018-07-10T08:21:41-05:00July 9th, 2018|

Fannie Mae – Combined FAQ Article – Project Insurance Requirements FAQs – Updated March 2018 and Project Standards Requirements FAQ’s – Updated March 2018

By: Lloyd Rutherford, Staff Writer Condominium financing can be complex, but it is worth the effort to understand this type of financing as more and more millennials look to purchase their first home.  This article contains two important FAQ documents and resource links to help you master condo financing. Rule Synopsis: Fannie Mae updated their [...]

2018-05-29T17:37:11-05:00April 9th, 2018|