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Fannie mae limited review condo questionnaire pdf

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The document is a questionnaire designed for Fannie Mae's limited review of attached condominium projects to ensure compliance with agency guidelines. It includes a series of yes/no questions regarding the project's management, ownership structure, occupancy, and any potential legal or financial issues that may affect the project.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who fills out the condo questionnaire?

The condo questionnaire is typically filled out by the Homeowners Association (HOA) or the property management company that oversees the inium complex. This step is absolutely vital in getting a mortgage for your inium, as it provides a detailed picture of the propertys financial and legal standing.

What is the difference between audit and limited review?

Unlike a statutory audit where the purpose is to express an audit opinion, in a limited review, the reviewer just states in the limited review report that he has no reason to believe that the financial statements are materially misstated.

What is the limited review process?

Limited review is conducted as per SRE 2410 Review of Interim Financial Information performed by independent auditor of the entity. An interim audit is a year end statutory audit engagement which is broken into multiple parts and each such part is known as an interim period.

What is meant by limited review?

Definitions of limited review. noun. (accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data. synonyms: review.

How much does the condo questionnaire cost?

The fee for a condo questionaire is generally about $250-300. The prospective borrower typically pays the fee.

fannie mae limited condo questionnaire form

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What is the difference between Fannie Mae Limited Review and Full Review?

A Limited Condo Review is a streamlined program offered by Fannie Mae Freddie Mac for loans categorized as lower risk. iniums underwritten under the Limited Review program are several times MORE LIKELY TO BE APPROVED than those submitted under the Full Review program.

What triggers a full condo review?

A Full Review may be performed when the unit securing the loan is an attached unit located in one of the following project types: an established condo project, or. a new or newly converted condo project.

Does Fannie Mae require a condo questionnaire?

The inium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file.

Get the up-to-date Fannie Mae Attached Condominium Limited Review Questionnaire 2025 now

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Who fills out the condo questionnaire?

What is the difference between audit and limited review?

What is the limited review process?

What is meant by limited review?

How much does the condo questionnaire cost?

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What is the difference between Fannie Mae Limited Review and Full Review?

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