855 Manager

10/21/2026

Is Your Condominium on a Mortgage Lender's Blacklist?

🚨 MICHIGAN CONDO OWNERS & BOARD MEMBERS — THIS IS SOMETHING YOU SHOULD KNOW!

Did you know a condominium development can have financing eligibility issues that make it harder for prospective buyers to obtain certain mortgages?

Not every condominium qualifies for every mortgage program.

You've probably heard the terms:
🏠 WARRANTABLE CONDO: Generally meets applicable conventional mortgage investor requirements.
🏠 NON-WARRANTABLE CONDO: Does not meet one or more requirements, potentially limiting conventional mortgage options.

Here's what many condominium owners don't realize:

Fannie Mae maintains a system called Condo Project Manager (CPM).

Condominium projects can receive an "Unavailable" designation when identified conditions make them ineligible for Fannie Mae financing.

This is sometimes referred to as a condominium mortgage "blacklist."

Issues may involve:
❌ Significant deferred maintenance or critical repairs
❌ Inadequate insurance coverage
❌ Certain pending litigation
❌ Other project eligibility concerns

What about FHA and VA loans?
- FHA and VA maintain their own condominium approval or acceptance systems, separate from Fannie Mae.
- A condominium that doesn't qualify for one financing program may still have other financing options available.

The important takeaway: Being non-warrantable doesn't mean your condominium cannot be sold. However, it can limit financing choices for prospective buyers.

🏘️ CONDO BOARD MEMBERS: Do you know your association's financing eligibility status? Fannie Mae offers a free Condo Status Finder for authorized association representatives and management companies.

At 855 Manager, we understand the connection between professional association management, financial reporting, and real estate transactions.

📅 Have questions about your condominium association's management needs? Let's connect! Visit the link in our bio to schedule a call with the 855 Manager team or find our contact information.

10/21/2026

Understanding Housing Inventory: What It Means for Home Buyers and Sellers

Housing inventory plays an important role in the real estate market. The number of homes available for sale can affect buyer choices, competition, pricing, and

10/19/2026

Michigan Condo Boards: Are You Prepared for the New 15% Reserve Requirement?
💰 A MAJOR CHANGE IS COMING TO CONDOMINIUM RESERVE REQUIREMENTS!

Starting January 4, 2027, Fannie Mae is increasing its minimum replacement reserve allocation from 10% to 15% of annual budgeted assessment income for condominium projects undergoing Full Review.

What does this mean for your association?

If your association wants to meet applicable Fannie Mae financing requirements, now is the time to evaluate your reserve funding strategy.

But there's an important alternative worth understanding.

✅ A professionally prepared reserve study may provide another option.

Fannie Mae allows an acceptable reserve study to support an alternative funding approach when specific requirements are met, including budgeting the study's highest recommended reserve allocation.

And there's more happening in Michigan!

Michigan currently maintains a separate condominium reserve fund requirement based on 10% of the association's current annual budget.

Meanwhile, Michigan lawmakers have introduced House Bill 5784, proposing new reserve study and reserve funding planning requirements.

⚠️ The Michigan legislation is still proposed and has NOT become law.

🏘️ CONDO BOARD MEMBERS:

As you prepare your 2027 budgets, consider these questions:
✅ Are we adequately funding our reserves?
✅ Do we have a current reserve study or long-term capital replacement plan?
✅ Are we prepared for future repairs and major expenses?
✅ Could our financial condition affect homeowners seeking conventional financing?

Good financial planning today can help reduce unexpected challenges tomorrow. 855 Manager supports Michigan condominium boards with budgeting, financial reporting, maintenance coordination, and association management.

📅 Have questions about your condominium association's management needs? Let's connect! Visit the link in our bio to schedule a call with the 855 Manager team or find our contact information.

📖 Sources: Fannie Mae LL-2026-03 | Michigan Condominium Act | Michigan HB 5784

10/18/2026

Fannie Mae Eliminated Limited Review. Is Your Association Prepared?

📢 ATTENTION MICHIGAN CONDOMINIUM BOARD MEMBERS!

Fannie Mae has made an important change to how condominium projects are evaluated for conventional mortgage financing.

Effective August 3, 2026, Fannie Mae eliminated its Limited Review process.

What does this mean for condominium associations?

Previously, certain condominium transactions qualified for a streamlined review.

Under the updated requirements, projects previously eligible for Limited Review must now use:
✅ Full Review, or
✅ Waiver of Project Review, when eligible.

For some associations, this means lenders may request additional financial information, insurance documentation, and details about the condominium project.

Why should your board care?
- More extensive reviews can mean additional paperwork, administrative time, and potentially higher processing costs.
- Having organized records and accurate financial reporting can help your association respond efficiently when owners are buying, selling, or refinancing.

🏘️ BOARD MEMBERS: Are your association's financial statements, budgets, insurance records, and lender questionnaires readily available?

At 855 Manager, we help Michigan condominium associations maintain organized records, prepare financial reports, and manage lender documentation requests.

📅 Have questions about your condominium association's management needs? Let's connect! Visit the link in our bio to schedule a call with the 855 Manager team or find our contact information.

📖 Source: Fannie Mae Lender Letter LL-2026-03

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10/15/2026

Could Your Condo Association Prevent an Owner From Getting Conventional Financing?

🚨 MICHIGAN CONDO OWNERS & BOARD MEMBERS — DID YOU KNOW THIS?
When buying or selling a condominium, mortgage lenders look at more than the buyer's credit score, income, and down payment.

They may also evaluate the financial health and overall condition of the condominium association!

That includes:
✅ Association finances and reserve funding
✅ Insurance coverage
✅ Deferred maintenance and major repairs
✅ Compliance with mortgage lending requirements

Why does this matter?
If your condominium association doesn't meet certain lending requirements, prospective buyers may have fewer financing options.
That can make selling or refinancing a condominium more challenging.

🏘️ CONDO BOARD MEMBERS: Is your association financially prepared to support homeowners when they need to sell or refinance?

🏠 CONDO OWNERS: Share this with your association's board of directors. These are important conversations worth having!

At 855 Manager, we help Michigan condominium associations with financial reporting, budgeting, maintenance coordination, and professional association management.

📅 Have questions about your condominium association's management needs? Let's connect! Visit the link in our bio to schedule a call with the 855 Manager team or find our contact information.

10/14/2026

Financial Planning in Real Estate: A Guide for Buyers and Owners

10/07/2026

Real Estate Investment Basics for a More Informed Approach

Start With a Clear Investment ObjectiveReal estate investment can take many forms, and different properties can serve different purposes. An investor may be int

09/30/2026

How the 2026 Economic Outlook Could Affect the Housing Market

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09/23/2026

Real Estate Market Trends What Buyers and Sellers Should Know in 2026

The 2026 real estate market continues to evolve as mortgage rates, home prices, inventory, and buyer demand influence housing activity. For buyers and sellers,

09/20/2026

Price Reduction