Originating & Underwriting

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.  

Get Started

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.

Review SEL-2023-06

Access CPM

Condo Project Standards Training

Access resources including job aids, online learning videos including our Project Standards Property Condition Policy Updates, and frequently asked questions.

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Frequently Asked Questions 
Additional Resources

What's New

July 12, 2023

In this Perspectives blog, Jodi Horne discusses our focus on long-term homeownership sustainability, continuously refining our property and underwriting requirements to help set homebuyers up for success.

Sept. 1, 2022

The Condominium Project Questionnaire (Form 1076) is now also available in Spanish.

May 19, 2022

In this video, Jake Williamson describes our vision for the future of condo lending.

Project Eligibility Review Service

The Project Eligibility Review Service (PERS) is a review method lenders can use to submit project information to Fannie Mae for eligibility review. PERS may be required to review certain types of projects.

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.

Technology

Condo Project Manager™ (CPM™) helps lenders certify condo projects quickly and easily.

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Customizable Condo Buyer’s Guide

Support your outreach efforts with this Guide, now available in our Marketing Center.

Marketing Center