WebApr 5, 2024 · Requiring the use of CPM will provide greater transparency into the eligibility Full Review process for condo projects and is a step toward achieving Fannie Mae's vision to make condo lending more efficient for lenders and borrowers. View SEL-2024-02. Review the CPM Quick Start Guide as well as other resources below (including FAQs) to … WebApr 5, 2024 · March 02, 2024. Announcement SEL-2024-05. June 05, 2024. 1. Refer to the Eligibility Matrix for the maximum allowable CLTV and HCLTV ratios. (For example, a mortgage loan for a unit in a PERS-approved project can have a CLTV ratio up to 105% if it meets the Eligibility Matrix and Community Seconds requirements.) 2.
B4-2.1-01, General Information on Project Standards (03/01/2024 ...
WebFannie Mae's Condo Project Manager ™ (CPM ™) is a free, web-based tool that enables lenders to quickly and easily certify a condominium project (or a legal phase of a … shelia eaves cryer
Condo Project Manager Fannie Mae
WebApr 5, 2024 · Condo Project Legal Document Review Requirements for Units in New or Newly Converted Projects. The table below provides Fannie Mae's requirements for the review of the condo project's legal documents for units in new and newly converted condo projects containing more than four residential units. WebDec 30, 2024 · These new guidelines are a direct result of the Surfside tragedy in Florida, which put a spotlight on aging condominium and co-op communities. In Lender Letter dated October 13, 2024, Fannie Mae adopted temporary requirements which impact the eligibility of condominium and co-op projects containing attached units. The new … WebDec 31, 2024 · Conditional Project Acceptance, if required — Fannie Mae Form 1027 Final Project Acceptance — Fannie Mae Form 1028 Again, buildings with at least a 10-year warranty can be financed with just 3 ... shelia driver in ashe county