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- Ineligible Projects | Fannie Mae
Loans securing units in condo and co-op projects with mandatory memberships that require the HOA or co-op members to pay dues to a third-party organization (such as a golf course or other recreational facility) are ineligible for sale to Fannie Mae
- Is Your Condo on Fannie Mae’s Blacklist? What You Need to Know
Increased litigation – More legal disputes over assessments, structural concerns, and governance can trigger ineligibility As these standards tighten, many condo owners may find their
- Closing condos under litigation: Fannie Mae now gives . . . - HousingWire
Since 2010 Fannie Mae has had roughly the same litigation guidelines until January 30th, 2018 The new guidelines finally give lenders a way to close condos with pending litigation So what
- Can Condo Close If There Is A Pending Litigation
The new guidelines from Fannie Mae have finally allowed lenders to close condos with pending litigation A lis pendens, translated from Latin, means "a suit pending"
- Is your Condominium on the Fannie Mae Blacklist?
Are owners in your condominium having trouble selling or re-financing their units? If so, it may be due to the condominium property being blocked by Fannie Mae for not meeting its lending criteria
- Fannie Mae and Freddie Mac Agree to Make Their Condo Blacklist . . .
We are pleased to announce that Fannie Mae and Freddie Mac last week advised that they are going to provide the exact same service that Allcock Marcus has been providing since May, 2023 Fannie and Freddie plan to implement this program in late February 2024
- The Incoming Tidal Wave of Non-Warrantable Condominiums
Once it no longer does, it becomes Fannie Mae “ineligible” or “non-warrantable”, meaning Fannie Mae will no longer purchase a loan in the community from a third party originator Two specific laws in California are also impacting the financing of condominiums in California
- Condominium Pending Litigation - FannieMae Exceptions
If a lender discovers that a project is engaging in pre-litigation activities (such as, but not limited to, arbitration or mediation) that are reasonably expected to proceed to formal litigation; the lender must apply Fannie Mae’s litigation policies
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