On Wednesday, Fannie Mae and Freddie Mac adopted extensive changes to their requirements for approvals of condominium projects that are eligible for their loan purchase.  The changes created more flexibility and affordability with respect to replacement cost and deductible requirements for condo insurance– but took a step backward by ending authority for what are called limited reviews.

Why is this issue important? There are an estimated 5.4 million owner-occupied condominium units in the United States, accounting for roughly 6.3% of all owner-occupied homes.  Condos are commonly significantly more affordable than site-built homes – and for many moderate-income homebuyers, the details ⇒

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