![]() However, the short timeframe of implementation and updated lender questionnaires have caught community association boards, managers, attorneys, and document providers by surprise, and they are now seeking to address the new requirements while keeping real estate transactions in their communities moving forward.ĬAI sent a letter to the Federal Housing Finance Agency (FHFA) requesting that implementation of the temporary Fannie Mae and Freddie Mac guidelines be suspended by at least one year.ĬAI is collecting data to better understand the impact of these new requirements on condominiums and housing cooperatives. Fannie Mae and Freddie Mac introduced in late 2021 new project requirements for condominiums and housing cooperatives to ensure safety and structural stability following the partial collapse of Champlain Towers South condominium in Surfside, Fla., last June.
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