Announcement 2026-055 Fannie Mae and Freddie Mac Condominium Project Updates

Fannie Mae and Freddie Mac Condominium Project Updates

Newrez LLC "Newrez" Approved Correspondent Clients, please see the updates listed below for Condominium Projects effective with pipeline and new applications on or after August 3, 2026, unless otherwise noted.

Streamlined/Limited Review Project Review Process is being retired:

Freddie Mac Streamlined Review project review type has been retired.  Established Condominium Projects must be reviewed using the Established Condominium Projects project review type. Refer to Freddie Mac Guide Section 5701.5 or Reciprocal Review in Section 5701.9 for complete details. 

If eligible, they may also be delivered as “Exempt from Review”.

References to the Streamlined Review project review type in the liability insurance and fidelity insurance requirements are being removed.

Fannie Mae – Project Type Q - Limited Review process is being retired. Established projects previously eligible for Limited Review must now be reviewed using the Full Review process or when applicable, the Waiver of Project Review process found in the Selling Guide section B4-2.1-02 Waiver of Project Review.

This change for Fannie Mae effectively retires the remaining geographical restrictions that apply to the state of Florida. Geographic restrictions remain in effect until the Limited Review process is retired on August 3, 2026.

Reference 

Selling Guides:  Fannie Mae, Freddie Mac