October 13, 2021
Lender Letter LL-2021-14 Temporary Requirements for Condo and Co-op Projects
October 13, 2021 - This Lender Letter specifies temporary requirements that impact the eligibility of certain condo and co-op projects. These requirements relate to significant deferred maintenance and unsafe conditions, special assessments, reserve requirements, project eligibility waivers, and more. Additionally, these requirements are designed to protect borrowers from physically unsafe or financially unstable projects, and to prudently manage risk for Fannie Mae, our lenders, and investors.