In March of this year, Fannie Mae and Freddie Mac unveiled a major change to condominium lending, financial and insurance standards aimed at improving the way condos are bought, sold and managed. These updated rules change the criteria for prospective condo buyers to obtain conventional financing through Fannie and Freddie, which has ripple effects across condo marketability, sale timelines and property values.

The changes are significant, impacting how condominium projects are reviewed and how they are expected to fund reserves, as well as setting new minimum standards for a condo’s insurance coverage and deductibles. Anyone in a position to buy, details ⇒

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