New Condominium Project Review Requirements

Fannie Mae and Freddie Mac recently announced new Condominium Project Review Requirements. As of September All previously approved communities are requires to be re-approved

Property Managers and other contracted third-parties are required to complete a Lenders HOA Questionnaires and any provide reports and details of any Critical Repairs.

Additionally, Property Managers will be asked to provide a Project Inspection Report as well as the last 6 months of Board Meeting Minutes and the current Budget. A Reserve Study could also be requested.