Fannie Mae and Freddie Mac Tighten Condo Lending Rules

Buying a condo may have just become more complicated. New mortgage rules from Fannie Mae and Freddie Mac require lenders to take a closer look at a condominium association's finances, insurance coverage, reserve funding, and building condition before many loans can be approved. In this episode, Kathy Fettke explains what changed, why regulators implemented the new rules, and what condo buyers and real estate investors should know before making their next purchase.

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Source: https://www.fastcompany.com/91584458/new-condo-mortgage-rules-could-mean-delays-denials-and-higher-costs