MPF Announcement 2023-65

MPF Traditional Selling – Condominium Eligibility Updates

Effective Date: Immediately (unless otherwise noted)

Clarified requirements for project standards by incorporating additional guidance for the following:

• projects with delinquent special assessment dues,
• the proper treatment of projects subject to pre-litigation activities,

• identifying projects that operate as hotels or motels,
• projects in need of critical repairs, including material deficiencies and significant deferred maintenance,
• updated requirements in the list of Ineligible Projects related to projects with:
  • a status of "Unavailable" in Fannie Mae’s Condo Project Manager (CPM)
  • multi-dwelling unit condominiums
  • property that is not real estate
  • continuing care facilities
  • space that is used for nonresidential, commercial purposes, or non-incidental business operations

For additional information see section 8.2.7 Delinquent HOA Dues/Special Assessments, 8.4 Ineligible Projects, 8.4.1 Hotels or Motels, and 8.4.2 Projects in Need of Critical Repairs of the MPF Traditional Selling Guide.