Delinquent HOA Dues for Units in Attached Condominium Projects

By Brian P. McLean,

Fannie Mae is updating its review processes with respect to delinquent HOA dues (Announcement 08-34 | 12/16/08):

Fannie Mae is updating its delinquent HOA dues policy for the CPM Expedited Review and Lender Full Review processes to require that no more than 15 percent of the total units in a project can be 30 days or more past due on the payment of their condominium/association fee payments. This new policy applies to the review of both new and established attached condominium projects.

This was pointed out to me by Loura K. Sanchez of HindmanSanchez (Colorado).

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