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“The blacklist appears to have grown substantially since Fannie Mae enacted stricter requirements for condos to qualify for loans and mortgages that it backs a year after the Champlain Towers ...
Many condominium associations in Florida and across the country have been surprised to learn in recent months that their buildings have been blacklisted by the government-sponsored Fannie Mae ...
A condominium or "condo" is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with ...
Approved use: 350 apartments and townhomes in 3- to 5-story buildings Affordable housing : 23 units, priced at 60% of the area median income, or up to $42,480 a year for an individual and $60,660 ...
These programs include the Government National Mortgage Association (known as Ginnie Mae), the Federal National Mortgage Association (known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (known as Freddie Mac). These programs work by offering a guarantee on the mortgage payments of certain conforming loans.
The new Jumbo-Conforming program was adopted by Fannie Mae and Freddie Mac effective from April 1, 2008 until December 31, 2010. [6] The bill was signed into law by President Bush on February 13, 2008, [7] but the new rates were not being honored by any lenders (as of March 30, 2015).
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Fannie Mae, which was originally restricted to purchasing Federal Housing Administration and Veterans Administration (VA) mortgages (Fannie Mae was permitted to deal in conventional mortgages in 1970), and; Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA ...