Fannie Mae & Freddie Mac Lending Guidelines for Condominiums and Housing Cooperatives - (April/May 2024)

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* 1. What is your role in the community association housing model?

Board member

Community association manager

Management company executive

Business partner

Other (please specify)

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* 2. What type of community association do you represent, please check all that apply

Condominium

Homeowners association

Housing cooperative

Other (please specify)

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* 3. What state are the communities you manage/live?

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* 4. If you are answering for more than one community, please provide a numerical value for the number of communities represented by your answers.

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* 5. If you are answering for one community, how many units in your community?

Less than 50

51-100

101-200

201-400

401-500

500-750

More than 750

Not applicable

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* 6. On average how many units in your community (communities) sell each year?

less than 20

25-50

50-100

More than 100

Not applicable

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* 7. Which of the following concerns do you/your community clients have regarding the Fannie Mae and Freddie Mac lender requirements?

Exposure to liability for answering questions that are beyond my knowledge and expertise.

Exposure to liability for not answering the questions.

Questions are beyond my knowledge and expertise.

We have to hire professionals to answer the questions.

Unable to provide the information being requested by the lender (please provide details)

None

Other (please specify)

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* 8. Which of the following have you experienced as an impact of the lender requirements in your community/communities?

Not Applicable

None

Delay in lender approval

Lender denial due to insurance deductible requirement

Lender denial due to inadequate insurance coverage

Lender denial due to inability to meet reserve requirement (please provide specifics in comment box)

Lender denial (sale didn't go through) because we couldn't answer the question(s)

Lender denial (sale didn't go through) because the building is unsafe

Lender denial due to inability to meet other requirements

Other (please specify)

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* 9. If you have experienced a lender denial in your community, what is the reason?

Unable to meet insurance requirements due to deductible requirement

Unable to meet insurance requirement due to inability to obtain requisite coverage

Unable to meet insurance requirement due to expense related to adequate coverage

Unable to meet reserve study or funding requirements.

Current litigation.

Special assessment.

Connection with master association club membership.

Management contract terms.

Ongoing structural maintenance project.

Other (please specify)

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* 10. Please provide additional comments.

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* 11. Please provide your name, phone, and email address if you are willing to be contacted to share your story.

Name

Company

Address

Address 2

City/Town

State/Province

ZIP/Postal Code

Country

Email Address

Phone Number