Fannie Mae Condominium Guideline Changes
Fannie Mae announced some transformational Condominium Guideline changes that will be effective on 6/23 that I want to share with everyone. This will undoubtedly be welcomed by those of us who operate in areas where this majority of the housing stock.
2-4 Unit Condominiums – Transactions in this association type (and only this type) WILL NOT require any condo reviews beyond getting the master certificate of insurance. This basically means it will be treated as a single family and items like owner occupancy, concentration of ownership, budget, etc., etc. WILL NOT even asked for Owner-Occupants and Investors. This is a huge change for investors, especially. ... See more