Fannie May and Freddie Mac Release Lender Bulletins for Condo and Co-Op Mortgages – What do Illinois Condominium Associations and Co-Ops Need to Know?

In the wake of the tragic 2021 condominium building collapse in Surfside, Florida, Fannie Mae (“Fannie”) and Freddie Mac (“Freddie”) adopted temporary eligibility guidelines for loans insured by Fannie and Freddie for condominium units or co-op apartments and required the completion of a condominium project questionnaire addendum in Form 1076. Recently, Fannie and Freddie released lender bulletins to clarify these eligibility guidelines.   Read the article………………………..