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. 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.
CAI 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.
In June of 2023, CAI joined the Community Home Lenders of America (CHLA) and National Association of REALTORS© (NAR) in contacting FHFA Director Sandra Thompson requesting transparency in the process of developing the final guidelines for condominium and housing cooperative lending requirements. Read the letter here.
In March 2026, Fannie Mae and Freddie Mac issued a slew of changes to their lending guidelines, intended to better reflect the realities of today’s housing market and focus on long-term financial sustainability. CAI has been working with industry partners to review and provide comments on these updated guidelines, which change insurance requirements, reserve funding requirements, and other key elements. CAI encourages communities to proactively review the new guidelines, as well as CAI’s resources, to ensure continued loan eligibility and support property values.
CAI's Advocacy Blog Posts
Read HOA Resources Article
Fannie Mae and Freddie Mac: What New Lending Guidelines Mean for your condominium or co-op
CAI Fannie/Freddie 2021 Guidelines Webinar
CAI held a Webinar on January 26, 2022 with Fannie Mae/Freddie Mac, and community association attorneys Edmund Allcock and Todd J. Billy, fellows in CAI's College of Community Association Lawyers.