The National Association of Mortgage Brokers (NAMB) is asking the Federal Housing Finance Agency (FHFA) to delay new Fannie Mae and Freddie Mac condominium project and property insurance standards, set to begin taking effect in August, by at least 12 months.

In a June 15 letter to FHFA Director Bill Pulte, the trade group warned that the current rollout schedule could push many projects into non-warrantable status and restrict access to conventional financing.

The rules, aimed at strengthening condo safety and financial health after high-profile structural failures, would retire Fannie Mae’s Limited Review process on Aug. 3 and details ⇒

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