Fannie Mae and Freddie Mac are asking lenders more questions about the safety and soundness of condos and co-op buildings after the Surfside collapse—but providing answers can be complicated
Fannie Mae and Freddie Mac are asking questions about the safety and soundness of condos and co-op buildings afterJune collapse that killed 98 people
, the mortgage giants said they would stop buying loans connected to buildings with significant deferred maintenance or safety issues. They have provided lenders with new in-depth questionnaires—to be completed by condo management companies, associations or boards—about a building’s condition.
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