Reserve Study – Funding Alternatives

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@peepso_user_121(Georgina S.)

Hello:
I have my unit for sale and pending approval of financing. The bank wants to know about funding future projects. Also if there has been a mechanical or structural inspection completed in the last three years.
They want to speak to a member of the board and have a copy of the said inspection.
Can I get help with this?
Georgina - unit 3411

12 months ago

@peepso_user_2(Dan)

@peepso_user_121(Georgina S.) We saw it come in and requested guidance for how to respond. This is the first one of these forms to come in since the new lender requirement were put in place in September. These forms are usually completed by PMA with guidance from our attorney.

See more here:
https://mbmllc.com/freddie-mac-fannie-may-condo-lender-requirements-2023.html

Fannie Mae and Freddie Mac Lender Requirements Effective September 18, 2023: What’s New, and Why Are These Changes Important?

mbmllc.com

As of September 18, 2023, the Fannie Mae and Freddie Mac condominium and cooperative project eligibility standards have changed. Fannie Mae, otherwise known as the Federal National Mortgage Association, and Freddie Mac, otherwise known as the Federal Home Loan Mortgage Corporation, are government-created entities that buy mortgages on the secondary market and back others, including…

12 months ago

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