Fannie Mae & Freddie Mac Updates

Fannie Mae and Freddie Mac have implemented significant new lending guidelines for condominium and cooperative associations that could affect financing eligibility, reserve funding requirements, and ultimately property values. In this Reserve Reel, Keith Ruehl explains the four major changes.

Situations where a closer look at a reserve study may help avoid questions or delays during financing, refinancing, or property sales.

A closer look at when these changes may come into play, especially during financing, refinancing, and sales activity.

How the retirement of Limited Review may increase scrutiny of reserve studies in lending decisions.

A closer look at funding recommendations, the 15% budget requirement, and how reserve contributions may now be evaluated.

Baseline funding is no longer accepted. Here’s what that means.

A few early observations on how the recent Fannie Mae update may influence reserve studies and funding decisions.