Condo, Co-Op, and PUD Eligibility
Fannie Mae is committed to helping lenders lend with confidence. Our ongoing commitment to risk management makes condos a more sustainable and affordable homeownership option for many borrowers.
Step 1: Determine a Condo Project Review Type
Step 2: Follow the Condo Project Review Type Requirements
Step 3: Confirm the Condo Project Insurance Requirements
Updated policies address condo and co-op project safety and sustainability
Projects with critical repairs or deferred maintenance can lead to unsafe conditions, uninhabitable homes, and financial hardships for homeowners. We introduced temporary requirements in LL-2021-14 to address projects with significant deferred maintenance and special assessments. Effective Sept. 18, 2023, our requirements addressing critical repairs and special assessments will be incorporated into permanent policy for condo and co-op projects with five or more attached units. Condo Project Manager™ (CPM™) will be updated the week of Sept. 15 with new data elements related to required repairs, deficiencies, inspections, and assessments.
Condo Project Standards Training
Access resources including job aids, online learning videos including our Project Standards Property Condition Policy Updates, and frequently asked questions.
Frequently Asked Questions
Condo Project Questionnaire
Government-sponsored enterprises (GSEs) have developed standardized Condo Project Questionnaire forms (1076/1077). Although optional, we recommend these forms. They offer lenders a clear and consistent approach to collecting condo project information from HOAs.