Fannie Mae Condominium Questionnaire - Limited Review
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3Fannie Mae Condominium Questionnaire – Limited Review
Attached Unit in Established Project
Detached Unit in New or Established Project (including 2-4 Unit Condo Projects)
Date:
Loan Number:
Project Name (exact):
Phase Number:
Project Address:
County:
City:
State:
Zip:
Borrower Name:
Subject Property Address/Unit Number:
A mortgage loan is being processed on the property listed above. The following information is
required to complete the process. Your timely response is appreciated.
PROJECT PROFILE (TO BE COMPLETED BY HOA, MANAGING AGENT)
Name of Association or Management Company: __________________________________________
Number of total units in project: ______________________
Units are:
Attached
Detached
What are the monthly dues for the subject unit? $ ___________________
Yes
No
1.
Are the unit owners in control of the HOA? If yes, as of _______/________ (mm/yy)
Are all common elements and amenities completed, including those that are part of any
2.
master association?
3.
Is the project complete and not subject to additional phasing?
If the subject unit is a detached unit, is the unit 100% complete?
4.
Is the project a Condotel (front desk, daily maid service, on-site rental desk, etc.)?
5.
Is project subject to time-share ownership or mandatory rental pools or is an individual
6.
property owner’s ability to utilize the property curtailed in any way?
Is the project an investment security?
7.
Does the project consist of property that is not real estate (e.g. houseboat, boat slip, etc.)?
8.
Do the CCRs split ownership or curtail the borrower’s ability to utilize the property?
9.
Is it a live work project? If yes, is it mostly residential in character and are the unit owners
10.
operates of the business?
Yes
No
Are multi-dwelling units allowed (owner owns more than 1-unit secured by a single deed
11.
and single mortgage)
Is the project subject to zoning restrictions that would prohibit the project from being re-built
12.
to current density?
Is the project a continuing care facility?
13.
Does the project have any non-incidental business operation owned or operated by the
14.
HOA? If yes, what percentage of the projects budgeted income comes from non-incidental
business operations? _________%
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4/27/15
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