Condo Project Advisor FAQ
Disclaimer
This information isn’t a replacement or substitute for the requirements in the Freddie Mac Single-Family Seller/Servicer Guide (Guide) and other Purchase Documents, the latter of which shall govern in the event of any interpretive or other conflict between these FAQs and the Guide/Purchase Documents.
Contents/Topics
- General Condo Project Advisor®
- Access to Condo Project Advisor
- Project Assessment Request (PAR)
- Project Assessment Lookup (PAL)
- Project Certified PAR Status
- Green and Yellow PAR Status
- Incomplete PAR Status
- Not Eligible PAR Status
- Project Certified Submission (PCS)
- General PAR, PAL and PWR
- Project Waiver Request (PWR)
- General Not Eligible
- External Seller Review Certification (SRC)
- Condo Project Advisor PAR findings in LPA
General Condo Project Advisor®
What is Condo Project Advisor®?
It’s a Freddie Mac risk assessment tool that provides feedback on a condominium project’s compliance with certain project review requirements. Its features can help you save time and money by simplifying your project underwriting process. Key features include Project Assessment Request (PAR), Project Waiver Request (PWR) and Project Certified Submission (PCS).
It also allows authorized Sellers, through PARs or PCSs, to obtain feedback (PAR findings) about a condo project’s compliance with the project review requirements assessed by Condo Project Advisor.
Through Project Assessment Lookup (PAL), authorized third-party originators (TPOs) can obtain feedback (PAL findings) about a condo project’s compliance with the project review requirements assessed by Condo Project Advisor.
Guide references: Sections 5701.10 and 5701.11
Date: July 2, 2025
How does Condo Project Advisor work?
The PWR is a workflow-based capability which allows authorized Sellers to request and track unit-level condo project eligibility waivers for condo projects that need special consideration. Sellers enter required data elements and upload necessary documentation for each new requested waiver submission. Each PWR is assessed, and if approved, that determination is provided in the Condo Project Advisor Feedback Certificate.
The PAR allows Sellers to enter a condo project’s name and address to obtain feedback (PAR findings) about that project’s compliance with the project review requirements assessed by Condo Project Advisor.
The PAL allows authorized third-party originators (TPOs) to enter a condo project’s name and address to obtain feedback (PAL findings) about that project’s compliance with the project review requirements assessed by Condo Project Advisor.
The PCS is a workflow-based capability which allows authorized Sellers to submit condo projects for a Project Certified review when specified on certain PAR findings. Sellers enter the required data elements and upload the required minimum documentation for each PCS request. If Condo Project Advisor finds that the condo project complies with the requirements for Project Certified, the condo project will be assigned a Project Certified status.
Freddie Mac will not exercise its remedies, including the issuance of repurchase requests, in connection with a breach of the Seller’s selling representations and warranties related to:
- For a mortgage with an approved PWR, the project review and eligibility requirements identified on the Condo Project Advisor Feedback Certificate; and
- For a mortgage with a PAR finding (including projects granted a Project Certified status through the PCS process), the project review requirement(s) assessed if Condo Project Advisor found that the project complied with the requirement(s) and the PAR findings are detailed on the Condo Project Advisor Feedback Certificate.
See Sections 5701.10 and 5701.11 on PAR and PWR for full details.
Guide references: Sections 5701.10 and 5701.11
Date: July 2, 2025
Does Condo Project Advisor provide assessments and findings for an entire condo project?
No. For PWRs, a waiver exception is for a specific mortgage secured by a condominium unit within an established condo project. For PARs and PALs, Condo Project Advisor focuses on certain project review requirements. So, a PAR or PAL finding only covers a project’s compliance with the project review requirements that the tool assesses. Additionally, the PAR finding is applicable only to the mortgage identified on the Condo Project Advisor Feedback Certificate. It isn’t transferrable to other mortgages secured by units in the same project. A Condo Project Advisor Feedback Certificate isn’t issued with PAL findings.
Refer to Q2 under the Green and Yellow PAR Status subhead for a list of requirements Condo Project Advisor does not assess for streamlined review and established condo projects review types and Q2 under the Project Certified PAR Status for requirements for which Sellers remain responsible for condo projects with a Project Certified status.
Guide references: Sections 5701.10 and 5701.11
Date: July 2, 2025
Does my company need to be a Freddie Mac-authorized Seller to use Condo Project Advisor?
For PARs, PCSs and PWRs, only Freddie Mac-approved Sellers may access these Condo Project Advisor features. They are not available to correspondents or mortgage brokers who are not Freddie Mac-approved Sellers.
For Project Assessment Lookups (PAL), authorized third-party originators (TPOs) may access this Condo Project Advisor feature. An authorized TPO is either a correspondent or a mortgage broker, in each case, that has been assigned a TPO Number by Freddie Mac.
Guide reference: N/A
Date: July 2, 2025
Is there a fee to use Condo Project Advisor?
No. Condo Project Advisor is a free tool requiring no fee to use.
Guide reference: N/A
Date: July 2, 2025
Am I required to use Loan Product Advisor®(LPA®) to receive a PWR or PAR assessment through Condo Project Advisor?
A loan isn’t required to be submitted through LPA to receive a PWR through Condo Project Advisor and be eligible for sale to Freddie Mac.
Additionally, a loan isn’t required to be submitted through LPA to receive a PAR finding. However, the mortgage must be a Loan Product Advisor Mortgage if the Seller chooses to deliver the mortgage with a feedback certificate containing the last PAR findings.
Guide reference: N/A
Date: July 2, 2025
Can mortgages that are originated using a PWR or PAR be sold to an aggregator?
Yes. If the aggregator is a Freddie Mac-authorized Seller and makes a decision to accept the mortgage, they can sell the mortgages to Freddie Mac using the PWR or PAR finding.
Guide reference: N/A
Date: July 2, 2025
If a mortgage receives an approved PWR or PAR finding, will it affect pricing at delivery?
No. Approved PWRs and PAR findings don’t affect delivery pricing.
Guide reference: N/A
Date: July 2, 2025
Does Condo Project Advisor have system-to-system access?
No. Condo Project Advisor does not have system-to-system access.
Guide reference: N/A
Date: July 2, 2025
Is there training available for Condo Project Advisor?
Access to Condo Project Advisor
How do I get provisioned to use Condo Project Advisor?
You can request provisioning for Condo Project Advisor through Freddie Mac Access Manager. If your company is already using Freddie Mac Access Manager, your executive administrator will need to use the Modify Administrator Access authorization workflow to update the existing company administrator’s access authorization to allow provisioning for Condo Project Advisor. Once they’ve done that, they can use the Create New User with Access or Add User Access workflows to edit/add users to allow use of Condo Project Advisor. For more information, view the Condo Project Advisor Access job aid or visit the Freddie Mac Access Manager Help Center.
Once provisioned, Condo Project Advisor will be accessible through Freddie Mac GatewaySM, which is a portal to access Freddie Mac tools.
Guide reference: N/A
Date: July 2, 2025
How can authorized representatives of HOAs who aren’t provisioned for Condo Project Advisor determine the PAR finding status of their project?
Information on how authorized representatives of HOAs can submit information requests is posted at Condominium Unit Mortgages.
Guide reference: N/A
Date: July 2, 2025
How can I access Condo Project Advisor if I’m a correspondent/mortgage broker without a Freddie Mac TPO Number?
Only authorized TPOs may be provisioned to use Condo Project Advisor. An authorized TPO is either a correspondent or a mortgage broker, in each case, that has been assigned a TPO Number by Freddie Mac. Access will be limited to the Project Assessment Lookup (PAL) feature. TPOs without a Freddie Mac TPO Number will need to register to become an approved Freddie Mac Correspondent/Mortgage Broker via the Unified Counterparty Experience® (UCount®) Registration Portal:
Guide reference: N/A
Date: July 2, 2025
Project Assessment Request (PAR)
What is a PAR finding? [New 12/06/2023]
A PAR finding consists of the status Condo Project Advisor assigns to the project (Green, Yellow, Incomplete Assessment, or Project Certified) and related feedback messaging.
- Project Certified – Condo Project Advisor finds the condo project complies with the requirements it assesses for this status. See Section 5701.10(d)(i) for applicable requirements.
- Green – The condo project complies with all requirements assessed.
- Yellow – The condo project does not comply with one or more of the requirements assessed.
- Incomplete Assessment – Unable to perform the assessment.
- Not Eligible – The condo project does not meet certain project review and general eligibility requirements.
Guide reference: Section 5701.10
Date: July 2, 2025
My condo project didn’t populate in Condo Project Advisor when I submitted a PAR. How do I get it added? [09/11/2023]
We’re continuously reviewing established projects for updates and additions to Condo Project Advisor. We don’t accept requests to add projects to Condo Project Advisor.
Guide reference: N/A
Date: July 2, 2025
My condo project populated in Condo Project Advisor when I submitted a PAR, but the subject unit’s street name isn’t listed. How do I get it added?
We’re continuously reviewing established projects for updates and additions to Condo Project Advisor. You may email the street name to [email protected]. However, you should ensure the condo project complies with all the requirements for streamlined review (Section 5701.4) or Established Condominium Projects (Section 5701.5).
Guide reference: N/A
Date: July 2, 2025
Project Assessment Lookup (PAL)
What is a Project Assessment Lookup (PAL) finding?
A PAL finding provides the same project information as a PAR finding.
- Project Certified – Condo Project Advisor finds the condo project complies with the requirements it assesses for this status. See Section 5701.10(f) for applicable requirements.
- Green – The condo project complies with all requirements assessed.
- Yellow – The condo project does not comply with one or more of the requirements assessed.
- Incomplete Assessment – Unable to perform the assessment.
- Not Eligible – The condo project does not meet certain project review and general eligibility requirements.
Guide reference: Section 5701.10
Date: July 2, 2025
My condo project didn’t populate in Condo Project Advisor when I submitted a PAL. How do I add it?
We’re continuously reviewing established projects for updates and additions to Condo Project Advisor. We don’t accept requests to add projects to Condo Project Advisor.
Guide reference: N/A
Date: July 2, 2025
Is a Project Assessment Lookup (PAL) Summary document the same as a Condo Project Advisor Feedback Certificate?
No. The PAL Summary isn’t the same as a Condo Project Advisor Feedback Certificate. PAL findings (the status and related feedback messages) are the same as PAR findings. However, Section 5701.10(h) regarding representations and warranties is applicable only to the Condo Project Advisor Feedback Certificate or a Last Feedback Certificate maintained in the Mortgage file, whichever has the last PAR findings (see Section 5701.10(d)(iii)).
Guide reference: N/A
Date: July 2, 2025
Project Certified PAR Status
For condo projects with a Project Certified PAR status, what condo project review requirements does Condo Project Advisor assess? [07/05/2023]
Condo Project Advisor assesses only the project review requirements in the following Guide locations for condo projects with a Project Certified status:
Condo Project Advisor Assessment | |
|---|---|
| Guide location | Project review requirement |
| Glossary | Definition of an Established Condominium Project |
| Section 5701.3 | Ineligible Projects |
| Section 5701.5 | Established Condominium Projects |
See Q2 below for requirements for which Seller remains responsible when Condo Project Advisor assigns a Project Certified status to an Established Condominium Project.
Guide reference: Section 5701.10
Date: July 2, 2025
What do I need to do if Condo Project Advisor assigns a Project Certified status to the project or if we receive a Project Certified status through a PCS review? [Updated 12/06/2023]
When Condo Project Advisor assigns a Project Certified status to the project, the Seller must ensure compliance with the general condo project eligibility requirements in Section 5701.2(b).
Sellers must also comply with the owner-occupancy requirements for investment property mortgages in Section 5701.5(b) when specified on the Condo Project Advisor feedback certificate.
The provisions of Section 5701.10 that apply to projects with a Project Certified status also apply to projects with a Project Certified status obtained through a PCS review.
Guide references: Sections 5701.2(b), 5701.5(b) and 5701.10
Date: July 2, 2025
If I determined that a project met the requirements for Established Condominium Projects project review type in Section 5701.5, why did it not receive a Project Certified status?[07/05/2023]
Condo Project Advisor assesses only a limited number of projects for this status.
Guide reference: N/A
Date: July 2, 2025
Green and Yellow PAR Status
For a Green or Yellow PAR, what condominium project review requirements does Condo Project Advisor assess? [10/05/2022]
Condo Project Advisor assesses the following project review requirements for streamlined review (Section 5701.4) and Established Condominium Projects (Section 5701.5) project review types.
Condo Project Advisor Assesses | |
|---|---|
| Guide location | Project review requirement |
| Glossary | Definition of an Established Condominium Project |
| Section 5701.3(b) | Condominium Hotel or similar type of transient housing |
| Section 5701.3(c) | Project with multi-dwelling units |
| Section 5701.3(d) | Project with excessive commercial or non-residential space |
| Section 5701.3(e) | Tenancy-in-common apartment project |
| Section 5701.3(f) | Timeshare project or project with segmented ownership |
| Section 5701.3(g) | Houseboat project |
| Section 5701.3(h) | Project in which the unit owners don’t possess sole ownership of the Common Elements |
| Section 5701.3(j) | Project with excessive single investor concentration |
| Section 5701.3(k) | Continuing Care Retirement Community (CCRC) |
| Section 5701.3(l) | Manufactured Homes |
| Section 5701.3(m) | Project with mandatory dues or similar membership fees for use of Amenities such as clubhouses or recreational facilities |
Guide reference: 5701.10
Date: July 2, 2025
For a Green or Yellow PAR, what condominium project review and general eligibility requirements does Condo Project Advisor not assess? [10/05/2022]
Condo Project Advisor doesn’t assess the following project review requirements for streamlined review (Section 5701.4) and Established Condominium Projects (Section 5701.5) project review types for a Green or Yellow PAR. See Q2 under the Project Certified PAR Status subhead when Condo Project Advisor assigns a Project Certified status to an Established Condominium Project.
Condo Project Advisor DOES NOT Assess | |
|---|---|
| Guide location | Project review requirement |
| 5701.2(a)(3) | Expiration of project review is within one year prior to the Note Date |
| 5701.2(a)(4) | The Condominium Project remains in full compliance with applicable State law, the requirements of the jurisdiction in which the Condominium Project is located and all other applicable laws and regulations governing the Condominium Project. |
| 5701.3(a) | Projects in which the unit owners don’t have an undivided ownership interest or leasehold interest in the land on which the project is located |
| 5701.3(i) | Project in litigation |
| 5701.3(n) | Projects in need of Critical Repairs |
| 5701.3(o) | Project with an evacuation order |
| Section 5701.3(p) | Projects terminating or involved in insolvency proceedings |
Condo Project Advisor also doesn’t assess the following project review requirement for streamlined review (Section 5701.4) project review type. See Q2 under the Project Certified PAR Status subhead when Condo Project Advisor assigns a Project Certified status to an Established Condominium Project.
Condo Project Advisor DOES NOT Assess | |
|---|---|
| Section | Project review requirement |
| 5701.4(b) | Maximum loan-to-value/total loan-to-value/Home Equity Line of Credit total loan-to-value ratios |
Condo Project Advisor doesn’t assess the following project review requirements for the Established Condominium Projects (Section 5701.5) project review type. See Q2 under the Project Certified PAR Status subhead when Condo Project Advisor assigns a Project Certified status to an Established Condominium Project.
Condo Project Advisor DOES NOT Assess | |
|---|---|
| Section | Project Review Requirement |
| 5701.5(b) | Owner-occupancy requirements for Established Condominium Projects |
| 5701.5(c) | Project budget requirements for Established Condominium Projects |
| 5701.5(d) | Delinquent assessments for Established Condominium Projects |
| 5701.5(e) | Requirements when a Seller relies on a project reserve study for Established Condominium Projects |
| 5701.5(f) | Manufactured Homes |
Condo Project Advisor doesn’t assess the general Condominium Project eligibility requirements in Section 5701.2(b).
Guide references: Sections 5701.2, 5701.3, 5701.4, 5701.5 and 5701.10
Date: July 2, 2025
What do I need to do if Condo Project Advisor assigns a Green status to the project? [10/05/2022]
When Condo Project Advisor assigns a Green status to the project, the Seller does not need to ensure compliance with all project review requirements assessed by Condo Project Advisor. The PAR findings will include feedback that identifies those requirements.
Sellers must ensure compliance with the project review and general eligibility requirements that Condo Project Advisor does not assess.
Guide reference: Section 5701.10
Date: July 2, 2025
What do I need to do if Condo Project Advisor assigns a Yellow status to the project? [10/05/2022]
When Condo Project Advisor assigns a Yellow status to the project, the condo project doesn’t comply with one or more of the requirements assessed by Condo Project Advisor. The PAR findings will include feedback that identifies those requirements, and the Seller must ensure compliance with them. Since the loan must be secured by a condo unit in an established condo project, if one of the identified requirements is that the project may not be an established condo project, the Seller must first determine that the project meets the Glossary definition of an Established Condominium Project in the Single-Family Seller/Servicer Guide.
Sellers must also ensure compliance with the project review and general eligibility requirements that Condo Project Advisor does not assess.
Guide reference: Section 5701.10
Date: July 2, 2025
Incomplete PAR Status
What do I need to do if Condo Project Advisor assigns an Incomplete Assessment status to the project? [Updated 07/05/2023]
When Condo Project Advisor assigns an Incomplete Assessmentstatus, the Seller must ensure compliance with all project review requirements(Section 5701.2(a)) and general eligibility requirements (Section 5701.2(b)).If the Feedback Certificate message also indicates that the condo project maybe in need critical repairs, the project may be an ineligible project under therequirements of Section 5701.3(n). You must determine that the condo project isnot in need of critical repairs and otherwise complies with Section 5701.3(n),as well as all other project review and general eligibility requirements inSections 5701.2(a) and 5701.2(b).
Guide references: Sections 5701.2, 5701.3 and 5701.10
Date: July 2, 2025
What can cause Condo Project Advisor to assign an Incomplete Assessment status?[Updated 07/05/2023]
The PAR findings will return an Incomplete Assessment when Condo Project Advisor is unable to perform the assessment.
Additionally, if Condo Project Advisor identifies the condo project as one that may need critical repairs, the PAR findings will return an Incomplete Assessment and state “This Condominium Project may be in need of Critical Repairs.”
Guide reference: Section 5701.10
Date: July 2, 2025
If the Condo Project Advisor PAR feedback message does not indicate that the project may need critical repairs, then does that mean the specific condo project does not need critical repairs? [07/05/2023]
Generally, Condo Project Advisor doesn’t assess compliance with our requirements for projects in need of critical repairs.
However, if the project receives a Not Eligible for critical repair or a Project Certified status PAR finding, it indicates that we assessed compliance with our critical repairs requirements.
If the project receives a feedback message indicating that the project may need critical repairs, it indicates that we didn’t determine compliance with our critical repairs requirements. This is only a notice that the project may need critical repairs.
Guide reference: Section 5701.10
Date: July 2, 2025
Not Eligible PAR Status
If I have information that a project doesn’t meet another secondary market participant’s condo underwriting requirements (e.g., doesn’t meet Fannie Mae, FHA or VA condo underwriting requirements), do I need to provide this information to Freddie Mac ..
No. Sellers aren’t required to notify Freddie Mac that a project may not meet another secondary market participant’s condo underwriting requirements.
Sellers are required to contact Freddie Mac at [email protected] with information that could impact, or is inconsistent with, a project’s PAR findings. The information that must be provided to Freddie Mac should relate only to Freddie Mac’s project review and general eligibility requirements and not to any other secondary market participant.
Guide reference: Section 5701.10(d)(ii)
Date: July 2, 2025
If I have information that a project doesn’t meet certain Freddie Mac project review or general eligibility requirement(s) even though the Condo Project Advisor Feedback Certificate indicates the requirement(s) is/are met, do I need to provide this inf
Yes, Sellers are required to contact Freddie Mac at [email protected] with any information that could impact or is inconsistent with a project’s PAR findings. See Section 5701.10(d)(ii) for full details.
Guide reference: Section 5701.10(d)(ii)
Date: July 2, 2025
Project Certified Submission (PCS)
How do I know if I can request a PCS on a condominium project?
Condo Project Advisor will specify on certain PARs if the condo project may be submitted for a Project Certified review.
Guide reference: Section 5701.10(f)
Date: July 2, 2025
What documents must be included with a PCS?
Seller must submit all the following documents to Freddie Mac for review:
- Seller full review questionnaire dated within 180 days of PCS request date
- Condominium Project Addendum Form 476A or similar documentation to determine if a project is in need of Critical Repairs
- Any structural and/or mechanical inspection that has been completed within three years of the Seller’s PCS request date
- Current approved budget
- Such other documentation/information as Freddie Mac may request from time to time
Guide reference: Section 5701.10(f)
Date: July 2, 2025
Am I required to upload a specific full review questionnaire form with my PCS?
No. The form may be a proprietary questionnaire specific to your firm.
Guide reference: Section 5701.10(f)
Date: July 2, 2025
Am I required to include the Condominium Project Addendum Form 476A with my PCS?
No. However, you must provide documentation that contains information relating to the physical condition of the project. Some examples of documents include but are not limited to:
- Homeowners association board meeting minutes
- Engineer’s reports
- Structural and/or mechanical inspection reports
- Reserve studies
- List of necessary repairs provided by the HOA or management company
- List of special assessments provided by the HOA or management company Other substantially similar documentation
Guide reference: Section 5701.10(f)
Date: July 2, 2025
Can I request a PCS if I do not have all the required documents?
Incomplete PCS requests won’t be reviewed until the Seller has provided all the required documents.
Guide reference: Section 5701.10(f)
Date: July 2, 2025
How quickly can I find out if my PCS is approved?
We’ll make every effort to respond with a decision on your PCS within five business days of your submission of all required documentation listed in Section 5701.10(f)(ii).
Guide reference: N/A
Date: July 2, 2025
Can I still deliver a mortgage secured by a unit in a project if the related PCS request isn’t approved?
Yes, provided the mortgage meets the requirements of one of our condo project review types and all other applicable requirements of the Purchase Documents. See Chapter 5701 for details.
Guide reference: Section 5701.10
Date: July 2, 2025
General PAR, PAL and PWR
How do I know if my PWR or PAR has expired?
Sellers are responsible for monitoring expiration dates. Because the expiration is triggered by the Note Date, there is no notification within Condo Project Advisor if a PWR or PAR has expired.
Guide references: Sections 5701.10(i) and 5701.11(d)
Date: July 2, 2025
What should I do if my PWR or PAR has expired?
If your PWR expires, you must submit updated project information to Condo Project Advisor. If your PAR expires, you must submit the project’s name again for a new PAR finding.
Guide references: Sections 5701.10(i) 5701.11(d)
Date: July 2, 2025
Can PAL findings expire?
A PAL finding is the condo project’s status and related feedback messages at the time the authorized third-party originator (TPO) looks up the project in Condo Project Advisor. A condo project’s PAL findings (status and/or feedback messages) may change based on information assessed after Condo Project Advisor assigns a status to the project and after the authorized TPO last accessed Condo Project Advisor and obtained a project’s PAL findings.
Guide reference: N/A
Date: July 2, 2025
Project Waiver Request (PWR)
What categories are eligible for unit-level project waivers through Condo Project Advisor?
Sellers may request unit-level waivers for condo projects in the following categories:
- Delinquent Assessments – Condo projects where more than 15% of the total number of units are 60 or more days delinquent on HOA assessments.
- Excessive Commercial Space – Condo projects with excessive commercial or non-residential space.
- Leased Amenities – Condo projects in which the unit owners don’t possess sole ownership of the common elements.
- Pending Litigation (including Alternative Dispute Resolution (ADR) proceedings) – Condo projects with pending litigation (involving non-minor matters, etc.) or ADR proceedings.
- Project Unit Occupancy (Investment Properties) – Condo projects in which more than 50% of the project units are used as investment properties.
- Reserves – Condo project budgets with less than 10% allocated to replacement reserves.
- Single Entity Ownership – An individual/single entity (e.g., investment group, Housing Finance Agency (HFA), partnership or corporation) that owns more than a certain number of units in the condo project (e.g., for projects that have 21 or more units, a single entity that owns more than 25% of the units).
Guide reference: Section 5701.11
Date: July 2, 2025
Will Freddie Mac review a PWR for a requirement that isn’t one of the eligible categories for a unit-level project waiver?
No. PWRs that are submitted for requirements outside of the designated categories will be cancelled.
Guide reference: N/A
Date: July 2, 2025
When submitting a PWR, which condo HOA questionnaire should I upload?
You should upload the questionnaire that you’re using to underwrite the loan. This may be a proprietary questionnaire specific to your firm or the government-sponsored enterprise (GSE) questionnaire.
Guide reference: N/A
Date: July 2, 2025
When submitting a PWR, am I required to upload documents based on the PWR categories? [Updated 10/05/2022]
Yes. You should upload the required documents based on the waiver category to help with our decisioning process. Information on both required and recommended documents is available on the applicable data entry screen and in the Condo Project Advisor Project Waiver Request user guide.
Guide reference: N/A
Date: July 2, 2025
How do I know if my PWR is approved?
A Freddie Mac Gateway notification alert and email (if you select this option) will be sent so you know whether your request has been approved or denied. If your request is approved, the tool will issue a Condo Project Advisor feedback certificate that summarizes your exception request and indicates that your request was approved. The feedback certificate is available in PDF format and may be printed or saved. You must keep the feedback certificate in the mortgage file in the event it is selected for quality control or otherwise requested by Freddie Mac.
Guide reference: N/A
Date: July 2, 2025
How quickly can I find out if my PWR is approved?
We’ll make every effort to respond with a decision on your PWR within two business days of your submission, complete with all necessary information and documentation.
Guide reference: N/A
Date: July 2, 2025
General Not Eligible
When does Condo Project Advisor assign a Not Eligible status?[New 2/26/2024]
Condo Project Advisor will assign a Not Eligible status when certain project review and general eligibility requirements have not been met.
Guide reference: N/A
Date: July 2, 2025
What does it mean if Condo Project Advisor assigns a Not Eligible status? [New 2/26/2024]
When Condo Project Advisor assigns a Not Eligible status to a condo project, Freddie Mac will not purchase any mortgage secured by a condo unit in such a condo project.
Guide reference: Section 5701.10
Date: July 2, 2025
How can I appeal a Not Eligible status?
Appeals can be submitted by Sellers or authorized third-party originators (TPOs), or authorized representatives of the homeowners association (HOA) by completing a Not Eligible Status Data Form.
Review this video about making a status inquiry and/or appeal.
Guide reference: N/A
Date: July 2, 2025
How can I find out if a project has a Not Eligible status and what are the related project review and/or general eligibility requirement(s) that have not been met?
Freddie Mac Seller/Servicer and authorized third-party originators (TPOs): If the Freddie Mac Gateway tool you are using doesn’t provide the specific project review and/or general eligibility requirement(s) that haven’t been met, you can call Customer Service (800 FREDDIE) or submit a Not Eligible Status Data Form requesting the information.
Authorized representatives of HOAs can also request information by completing the same form.
Review this video about making a status inquiry and/or appeal request.
Guide reference: N/A
Date: July 2, 2025
What is an authorized representative of the HOA?
An authorized HOA representative is either a member of its board of directors or its project property manager. Freddie Mac defines a homeowners association (HOA) as an association comprised of unit owners that maintains the common elements for the benefit of the unit owners. In a condo project, the association has no ownership interest in the common elements.
Guide reference: N/A
Date: July 2, 2025
What is an authorized third-party originator?
An authorized TPO or authorized third-party originator is either a Correspondent or a Mortgage Broker, in each case, that has been assigned a TPO Number by Freddie Mac. As used herein, (i) a Correspondent is an entity that originates, funds and sells loans to an approved Freddie Mac Seller/Servicer, and (ii) a Mortgage Broker is a person or entity that specializes in loan originations and performs some or most of the loan processing functions, such as taking loan applications or ordering credit reports and title reports.
Guide reference: N/A
Date: July 2, 2025
Is there any way a mortgage secured by a unit in a project that has been assigned a Not Eligible status can be sold to Freddie Mac (e.g., pursuant to reciprocal review (Section 5701.9), Exempt From Review (Section 5701.7), under a negotiated term of
Question: Is there any way a mortgage secured by a unit in a project that has been assigned a Not Eligible status can be sold to Freddie Mac (e.g., pursuant to reciprocal review (Section 5701.9), Exempt From Review (Section 5701.7), under a negotiated term of business or otherwise)?
Answer: There are no exceptions. There is no other way to sell to Freddie Mac a mortgage secured by a unit in a project that has been assigned a Not Eligible status. See Section 5701.10(d)(i).
Guide reference: Section 5701.10(d)
Date: July 2, 2025
Is there a list of ineligible projects that can be provided? [New 2/26/2024]
The Not Eligible status is a Condo Project Advisor PAR finding (see Section 5701.10 for details) for a particular project. Our condo project status classifications in Condo Project Advisor are dynamic based on the underlying eligibility drivers which provides immediate, transparent and actionable feedback to lenders. Freddie Mac does not maintain a commercially available list of ineligible condo projects and does not ask lenders to refer to any other static list of projects. ”We won’t provide the number of projects or a list of projects with any PAR finding status (e.g., Green, Yellow), including the Not Eligible status PAR finding.
Guide reference: N/A
Date: July 2, 2025
How is a project’s Not Eligible status conveyed in Condo Project Advisor, Loan Product Advisor® (LPA®), Loan Quality Advisor® and Loan Selling Advisor®?
Messages related to the project’s Not Eligible status will be returned in Condo Project Advisor, LPA, Loan Quality Advisor and Loan Selling Advisor. For information on feedback messages, see the following:
Guide reference: Section 5701.10(d)(i)
Date: July 2, 2025
What if the Not Eligible status of a project cannot be assessed due to a system error or can’t be validated (Loan Selling Advisor and Loan Quality Advisor)?
Returned messages in Loan Selling Advisor and Loan Quality Advisor include messages indicating Condo Project Advisor is unavailable. In this instance, Seller may submit for the subject project’s PAR finding in Condo Project Advisor directly. If messaging in Condo Project Advisor also indicates it is unavailable, Seller may resubmit in Condo Project Advisor, Loan Selling Advisor or Loan Quality Advisor at a later time.
Seller should ensure the subject unit’s street name and code match in Condo Project Advisor, Loan Selling Advisor and/or Loan Quality Advisor.
Guide reference: N/A
Date: July 2, 2025
Is the project’s name used by LPA, Loan Quality Advisor or Loan Selling Advisor to search for and obtain the Condo Project Advisor Not Eligible status PAR finding?
No. The subject unit address is used and not the project’s name.
Guide reference: N/A
Date: July 2, 2025
Will the project name be provided in the messages for LPA, Loan Quality Advisor or Loan Selling Advisor?
The project name is provided in the LPA messages. The project name isn’t provided in the Loan Quality Advisor or Loan Selling Advisor messages.
Guide reference: N/A
Date: July 2, 2025
What if the first time I receive indication of a project’s Not Eligible status is in Loan Selling Advisor when I try to deliver the loan?
Mortgages secured by a condo unit in a condo project with a Not Eligible status are ineligible for sale to Freddie Mac, even if the first time the Seller receives a message regarding the project’s Not Eligible status and the mortgage’s ineligibility for sale is in Loan Selling Advisor. There are no exceptions. See Section 5701.10(d)(i).
Guide reference: Section 5701.10(d)
Date: July 2, 2025
Will Loan Selling Advisor stop delivery of a mortgage secured by a unit in a project with a Not Eligible status?
Yes. Loan Selling Advisor will stop the delivery of a mortgage secured by a unit in a condo project with a Not Eligible status. Sellers will receive a message in Loan Selling Advisor stating either:
(i) The mortgage is secured by a unit in a condo project that has a PAR finding of Not Eligible in Condo Project Advisor and is ineligible for sale to Freddie Mac, or
(ii) The Not Eligible status of a condo project can’t be validated, and the mortgage must be reassessed at a later time. Note: Even though this message doesn’t stop the delivery of this mortgage, the mortgage isn’t eligible for sale to Freddie Mac.
Guide reference: N/A
Date: July 2, 2025
If I have information that a project should or shouldn’t have a Not Eligible status, where should I send it?
Sellers and Sellers’ related third parties are required to contact Freddie Mac at [email protected] if they become aware of any information that could impact or is inconsistent with a project’s PAR findings (including the Not Eligible status). See Section 5701.10(d)(ii).
Guide reference: Section 5701.10(d)
Date: July 2, 2025
External Seller Review Certification (SRC)
If I get a feedback message that the subject condominium project is eligible for an SRC submission, do I have to submit?
No. SRC submissions are optional.
Will I get a feedback message in Loan Product Advisor® (LPA®) that the project is eligible for an SRC submission; if so, can I submit through LPA?
Although there will be an LPA feedback message when a project is eligible for an SRC submission, the SRC submission can be made only in Condo Project Advisor®.
If I choose to submit an SRC, are there specific documents I need to provide?
No. We recommend that you upload the documentation related to the SRC submission. No specific type of documentation is required.
Can Third-Party Originators submit an SRC?
At this time, only Sellers with authorized access to CPASM can submit an SRC.
If someone in my organization submits an SRC, will I be able to review the questions asked and related answers from that person’s SRC submission?
If the SRC submitter has the same Seller ID as you, you will be able to review the questions and answers for the submission or any resubmissions in CPA, not LPA.
Are new condominium projects eligible for an SRC submission?
No. CPA PAR is for established condominium projects only. So, this PAR enhancement, the SRC, is also only for established projects.
I submitted an SRC and got a Not Seller Certified submission status, does this mean the related mortgage may not be sold to Freddie Mac?
Sellers should double-check the data entered into CPA to see if numbers were transposed, data was omitted, etc. If the data was entered correctly, Sellers are encouraged to submit a Project Waiver Request (PWR) if the noncompliant project characteristic is an eligible PWR category. Also, if the project is eligible for a Project Certified Submission (PCS), Sellers are encouraged to submit a PCS. If a PWR or a PCS are not available for the project, or the PWR or PCS is denied, the mortgage isn’t saleable to Freddie Mac.
I submitted an SRC and got a Seller Certified status. Does this mean Freddie Mac will not exercise its remedies, including the issuance of repurchase requests, in connection with a breach of Seller representations and warranties related to the project...
Question: I submitted an SRC and got a Seller Certified status. Does this mean Freddie Mac will not exercise its remedies, including the issuance of repurchase requests, in connection with a breach of Seller representations and warranties related to the project review requirements for which I submitted data in CPA?
Answer: No. You continue to be responsible for your organization’s representations and warranties related to the project review requirements you assessed and the data you entered in CPA from your assessment.
Will only projects with a Green status PAR finding be eligible for an SRC submission?
No. A project can be eligible for an SRC submission if the project has a Green status PAR finding; a Yellow status PAR finding or an Incomplete Assessment status PAR finding.
I submitted an SRC and got a Seller Certified status in CPA. However, the LPA feedback message indicates the PAR status as Seller Certified and the Pre-SRC PAR Status is Yellow; what does this mean?
At the time the SRC was submitted, the submitter provided data based on the project’s Pre-SRC PAR Status finding of Yellow. The feedback message informs Seller that the Pre-SRC PAR Status finding at the time of SRC submission was Yellow status. Seller is responsible for its representations and warranties related to the project review requirements Seller assessed and the data Seller entered in CPA from its assessment.
If the subject project’s status PAR finding changed to Not Eligible from an unexpired Seller Certified status, can the related mortgage still be sold to Freddie Mac?
No. A Mortgage secured by a unit in a project with a Not Eligible status PAR finding cannot be sold to Freddie Mac.
Can other Sellers see our SRC submission results?
No. Only authorized CPA and LPA users with the same Seller ID as the SRC submitter can see the Seller Certified status. Only authorized CPA users with the same Seller ID can see the Non-Seller Certified submission status.
Condo Project Advisor PAR findings in Loan Product Advisor
Is it possible to sell a mortgage to Freddie Mac if I found a discrepancy with the condo project’s details in LPA’s feedback message FPA0197 (message text begins – “The Condo Project Advisor PAR status for this project is……”)?
If the condo project referenced in feedback message FPA0197 isn’t the project for the subject unit and the project wasn’t found in Condo Project Advisor, then the Seller must ensure compliance with the project review requirements in Section 5701.2(a) and the general eligibility requirements in Section 5701.2(b).
Guide reference: N/A
Date: July 2, 2025
Is it possible to sell a mortgage to Freddie Mac if: (1) the subject project was found in CPA, (2) it does not have a Not Eligible PAR finding, and (3) LPA indicates the project is not found?
Yes. If the condo project referenced on the CPA Feedback Certificate is the subject project, then Seller may sell the mortgage to Freddie Mac, even if the project is not found in LPA, as long as all requirements of Chapter 5701 and Seller's Purchase Documents have been met.