Now it's Easier to Grow Your Condo Business
November 5, 2018
Rising interest rates and a lack of affordable housing inventory are making condos a more appealing option for today’s homebuyers. But some lenders find condo loans difficult to underwrite. Condo Project Advisor℠ makes it easier – it gives you an edge to help you grow your business.
Condo Project Advisor lets you request unit-level condo waivers for existing condo existing projects that need special review or consideration. Here’s how it works:
Our user-friendly interface lets you quickly and easily enter data, answer questions and upload documents for each waiver request.
Request waivers on one or more of six criteria:
- Delinquent assessments
- Excessive commercial space
- Pending litigation
- Project occupancy (investment properties)
- Single entity ownership
After you’ve provided all necessary information, you’ll get a decision on the waiver request within two business days.
Rep and Warranty Relief
Loans that receive a unit-level waiver are eligible for rep and warranty relief related to the approved project waiver request.
Keep track of your waiver requests in Condo Project Advisor through intuitive reporting features and notifications.
Want to start growing your condo business? You can get access to Condo Project Advisor and provision users through Freddie Mac Access Manager, our self-service provisioning application. The Condo Project Advisor Access job aid has step-by-step instructions to help you get started.
Training and Resources
Visit the Freddie Mac Learning Center for helpful job aids, video clips and to register for Condo Project Advisor training.