Freddie Mac opened access to the list of condominium and housing projects it categorized as “not eligible status.” Condominiums and housing cooperatives may be placed in this category due to potential noncompliance with lending guidelines. Access is restricted to an authorized representative of a condominium association or housing cooperative.  Details can be found here.  

Condominium project eligibility indicates whether mortgages in these projects are eligible for purchase by Freddie Mac. As of 2023, Fannie Mae and Freddie Mac support around 70% of the mortgage market, according to the National Association of Realtors.  Evidence shows it is critically important for units within a condominium to have access to mortgages that qualify for purchase by Fannie Mae and Freddie Mac. 

Freddie Mac also use green and yellow status for condominium projects. Green status indicates the condominium project complies with all requirements. Yellow status indicates the project does not comply with one or more of the requirements and the lender should proceed with caution as the mortgage may or may not be purchased by Freddie Mac.

Fannie Mae and Freddie Mac maintain slightly separate requirements and lists. This blog post focuses on Freddie Mac’s list. Fannie Mae indicated it will provide access to its list in the third quarter of 2024. 

Here is a link to Freddie Mac Condominium Project Review and Eligibility Requirements  

If your community or client communities are experiencing challenges getting approved mortgages, please share the reasons why by completing this brief survey.   

This will help us share with Freddie Mac (and Fannie Mae) how these requirements are impacting condominium associations lending, which may lead to changes in the future. To determine the eligibility status of your condominium building, an authorized representative of a homeowners association board, which could be a board member, community association manager, community association lawyer or other project consultant, must use a form on Freddie Mac’s website to request whether a “note eligible” status has been assigned to a community. If it has, they can initiate an appeal.

The following information will be required to complete the form:

  • Project Name: Project’s legal name, not its marketing name.
  • Project Address: Street address, city, state, and zip code for the project. If the project has more than one street address, indicate this in the field. For example, you can enter “More than one street address” for the street address, then provide the city, state, and zip 
  • If the person completing the form is an authorized representative of the HOA, documentation that details the names of all authorized representatives (all board of directors and the project’s property manager) of the HOA.
  • If it is an appeal of a not eligible status, documentation supporting evidence of compliance with the applicable project review and/or general eligibility requirement(s).
  • Name
  • Title 
  • Phone 
  • Email address
  • Email address
  • Confirm email address
  • Company name
  • Company address
  • City 
  • State 
  • Zip code
  • Date completed

According to the U.S. Federal Housing Finance Agency, Fannie Mae and Freddie Mac were created by Congress. They perform a key role in the nation’s housing finance system – to provide liquidity, stability, and affordability to the mortgage market. They provide liquidity to the thousands of banks, savings and loans, and mortgage companies that make loans to finance housing.

Fannie Mae and Freddie Mac buy mortgages from lenders and either hold these mortgages in their portfolios or package the loans into mortgage-backed securities that may be sold. Lenders use the cash raised by selling mortgages to Fannie Mae and Freddie Mac to engage in further lending. 


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