Skip to main content
SF.FreddieMac.com

Condo Project Advisor FAQ

Important Notice

Requirements pertaining to the Not Eligible status are not effective until February 26, 2024, as announced in Single Family Seller/Servicer Guide Bulletin 2023-24.

General Condo Project Advisor®

Toggle all accordion sections
  1. What is Condo Project Advisor®? [Updated 12/06/2022]

    It’s a Freddie Mac Loan Advisor® tool that among other things allows Freddie Mac authorized Sellers, through Project Waiver Requests (PWRs), to easily request unit-level exceptions for established condominium projects early in the origination process. Unit-level waivers are for otherwise ineligible condo projects that require special review or examination for one or more eligibility criteria.

    It also allows authorized Sellers, through Project Assessment Requests (PARs) or Project Certified Submissions (PCS), to obtain feedback (PAR findings) about a condo project’s compliance with the project review requirements assessed by Condo Project Advisor.

  2. How does Condo Project Advisor work? [Updated 12/06/2023]

    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 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 PCS is a workflow-based capability which allows authorized Sellers to submit condominium 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 condominium project complies with the requirements for Project Certified, the condominium 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 Single-Family Seller/Servicer Guide (Guide) Section 5701.10 and 5701.11 on PAR and PWR for full details.
     

  3. Does Condo Project Advisor provide approval for an entire condo project? [Updated 07/05/2023]

    No. For PWRs, a waiver exception is for a specific mortgage secured by a condo unit within an established condominium project. For PARs,  Condo Project Advisor focuses on certain project review requirements. So, a PAR finding only covers a project’s compliance with the project review requirements that the tool assesses and that PAR finding is applicable only to the mortgage identified on the Condo Project Advisor Feedback Certificate. It is not transferrable to other mortgages secured by units in the same project. 

    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 condominium projects review types and Q2 under the Project Certified PAR Status for requirements for which  Sellers remain responsible for condominium projects with a Project Certified status.

  4. Does my company need to be a Freddie Mac authorized Seller to use Condo Project Advisor? [Updated 12/06/2023]

    Yes. Condo Project Advisor is only available to Freddie Mac approved Sellers. The tool is not available to correspondent lenders or mortgage brokers who are not Freddie Mac-approved Sellers. See Section 5701.1 for full details on PARs.

  5. Is there a fee to use Condo Project Advisor?

    No, it’s free. There is no fee to use Condo Project Advisor.

  6. Am I required to use Loan Product Advisor® (LPA) to receive a PWR or PAR assessment through Condo Project Advisor? [Updated 10/05/2022]

    It is not required that a loan be submitted through LPA to receive a PWR through Condo Project Advisor and be eligible for sale to Freddie Mac.

    It is also not required that a loan be submitted through LPA to receive a PAR finding. However, it is required that it be assessed by and processed through LPA to be eligible for sale to Freddie Mac.

  7. Can mortgages that are originated using a PWR or PAR be sold to an aggregator? [Updated 10/05/2022]

    Yes. If the aggregator is a Freddie Mac authorized Seller and makes a decision to accept the mortgage, they can sell that mortgages to Freddie Mac using the PWR or PAR finding.

  8. If a mortgage receives an approved PWR or PAR finding, will it affect pricing at delivery? [Updated 10/05/2022]

    No. Approved PWRs and PAR findings do not affect delivery pricing.

  9. Does Condo Project Advisor have system-to-system access?

    No. Condo Project Advisor does not have system-to-system access.

  10. Is there training available for Condo Project Advisor?

    Yes. Training is available via Freddie Mac Learning.

Access to Condo Project Advisor

Toggle all accordion sections
  1. 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.

  2. If I was already provisioned for Condo Project Advisor, to submit PWRs, do I need to be specifically provisioned for the CPA Project Assessment Request section? [10/05/2022]

    No. If you can already access Condo Project Advisor, there are no additional steps you need to take to be able to submit PARs.

  3. How do I access Condo Project Advisor?

    Condo Project Advisor is accessible through the Loan Advisor portal

  4. How can authorized representatives of HOAs who are not provisioned for Condo Project Advisor determine the PAR finding status of their project? [New 12/06/2023]

    Information on how authorized representatives of HOAs can submit information requests will be posted to the Condominium Unit Mortgages webpage by Feb. 26, 2024.

Project Assessment Requests (PAR)

  1. 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 condominium project complies with the requirements it assesses for this status. See Section 5701.1(e) for applicable requirements.
    • Green – the condominium project complies with all requirements assessed.
    • Yellow – the condominium project does not comply with one or more of the requirements assessed.
    • Incomplete Assessment – unable to perform the assessment.
    • Not Eligible – (effective 2/26/2024) the condominium project does not meet certain project review and general eligibility requirements.
  2. 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 are continuously reviewing established projects for updates and additions to Condo Project Advisor. We do not accept requests to add projects to Condo Project Advisor.

Project Certified PAR Status

Toggle all accordion sections
  1. For condominium projects with a Project Certified PAR status, what condominium project review requirements does Condo Project Advisor assess? [07/05/2023]

    Condo Project Advisor assesses only the project review requirements in the following Guide Sections for condominium projects with a Project Certified status:

    Condo Project Advisor Assess

    SectionProject Review Requirement
    Glossary Definition of an Established Condominium Project
    Section 5701.3Ineligible Projects
    Section 5701.5Established 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.

  2. 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 condominium 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)(2) when specified on the Condo Project Advisor feedback certificate.

    The provisions of Section 5701.10 applicable to projects with a Project Certified status are also applicable to projects with a Project Certified status obtained through a PCS review.

  3. 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.

Green and Yellow PAR Status

Toggle all accordion sections
  1. 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 the streamlined review (Guide Section 5701.4) and Established Condominium Projects (Guide Section 5701.5) project review types.

    Condo Project Advisor Assesses

    Section

    Project Review Requirement

    Glossary
    Definition of an Established Condominium Project
    Condominium Hotel or similar type of transient housing
    Project with multi-dwelling units
    Project with excessive commercial or non-residential space
    Tenancy-in-common apartment project
    Timeshare project or project with segmented ownership
    Houseboat project
    Project in which the unit owners do not possess sole ownership of the Common Elements
    Project with excessive single investor concentration
    5701.3(k)           
    Continuing Care Retirement Community (CCRC)
    Manufactured Homes
    Project with mandatory dues or similar membership fees for use of Amenities such as clubhouses or recreational facilities
  2. 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 DOES NOT assess the following project review requirements for the streamlined review (Guide Section 5701.4) and Established Condominium Projects (Guide 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

    SectionProject 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 with all other applicable laws and regulations governing the Condominium Project
    5701.3(a)Projects in which the unit owners do not 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


    Condo Project Advisor also DOES NOT assess the following project review requirement for the 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

    SectionProject Review Requirement
    5701.4(b)Maximum loan-to-value/total LTV/Home Equity Line of Credit TLTV ratios


    Condo Project Advisor DOES NOT 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

    SectionProject 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 DOES NOT assess the general condominium project eligibility requirements in Section 5701.2(b).

     

  3. 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 also ensure compliance with the project review and general eligibility requirements that Condo Project Advisor does not assess.

  4. 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 condominium project does not 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.

Incomplete PAR status

Toggle all accordion sections
  1. 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 Assessment status, the Seller must ensure compliance with all project review requirements (Guide Section 5701.2(a)) and general eligibility requirements (Guide Section 5701.2(b)). If the Feedback Certificate message also indicates that the condo project may be in need critical repairs, the project may be an ineligible project under the requirements of Guide Section 5701.3(n). You must determine that the condominium project is NOT in need of critical repairs, and comply with Guide Section 5701.3(n), as well as all other project review and general eligibility requirements in Guide Section 5701.2(a) and 5701.2(b)

  2. 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 condominium 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.”
     

  3. 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]

    Unless the project receives a Project Certified status PAR finding, Condo Project Advisor doesn’t assess compliance with our requirements for projects in need of critical repairs. The new Condo Project Advisor PAR feedback message is not an assessment or determination that the specific condo project needs critical repairs. It’s a notice that the project MAY need critical repairs.

Not Eligible PAR Status

  1. If I have information that a project does not meet another secondary market participant’s condo underwriting requirements (e.g., does not meet Fannie Mae, FHA or VA condo underwriting requirements), do I need to provide this information to Freddie Mac...

    Question: If I have information that a project does not meet another secondary market participant’s condo underwriting requirements (e.g., does not meet Fannie Mae, FHA or VA condo underwriting requirements), do I need to provide this information to Freddie Mac under the new requirement in Guide Section 5701.10(d)(vi), Changes to PAR findings? [New 02/26/2024]

    Answer: No, Sellers are not 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. See Guide Section 5701.10(d)(vi) for full details. [New 02/26/2024]

  2. If I have information that a project does not 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...

    Question: If I have information that a project does not 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 information to Freddie Mac under the new requirement in Guide Section 5701.10(d)(vi)? [New 02/26/2024]

    Answer: 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 Guide Section 5701.10(d)(vi) for full details.

Project Certified Submission (PCS)

Toggle all accordion sections
  1. How do I know if I can request a PCS on a condominium project? Can I request a PCS for new and established projects? [New 12/06/2023]

    Condo Project Advisor will specify on certain PARs if the condominium project may be submitted for a Project Certified review.

  2. What documents must be included with a PCS? [New 12/06/2023]

    Seller must submit all the following documents to Freddie Mac for review:

    • Seller full review questionnaire dated within 120 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
  3. Am I required to upload a specific full review questionnaire form with my PCS? [New 12/06/2023]

    No. The form may be a proprietary questionnaire specific to your firm.

  4. Am I required to include the Condominium Project Addendum Form 476A with my PCS? [New 12/06/2023]

    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
  5. Can I request a PCS if I do not have all the required documents? [New 12/06/2023]

    Incomplete PCS requests will not be reviewed until the Seller has provided all the required documents.

  6. How quickly can I find out if my PCS is approved? [New 12/06/2023]

    We will make every effort to respond with a decision on your PCS within five business days of your submission of all required documentation listed in Guide Section 5701.10(f)(ii).

  7. Can I still deliver a mortgage secured by a unit in a project if the related PCS request is not approved? [New 12/06/2023]

    Yes, provided the mortgage meets the requirements of one of our condominium project review types and all other applicable requirements of the Purchase Documents. See Guide Chapter 5701 for details.

General PAR and PWR

Toggle all accordion sections
  1. Can my PWR or PAR expire? [Updated 12/06/2023]

    Yes. Mortgages with approved PWRs or PAR findings must be delivered to Freddie Mac within 120 days after the Note Date. For PARs with Green or Yellow status findings, the Note Date of the applicable mortgage must be within one year of the issue date of the Condo Project Advisor Feedback Certificate. 

    For PARs with Project Certified status findings, the Note Date of the applicable mortgage must be within 120 days of the issue date of the Condo Project Advisor Feedback Certificate.

  2. How do I know if my PWR or PAR has expired? [Updated 10/05/2022]

    Because the expiration is triggered by the Note Date, there is no notification within Condo Project Advisor if a PWR or PAR has expired. Sellers are responsible for monitoring expiration dates.

  3. What should I do if my PWR or PAR has expired? [Updated 10/05/2022]

    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.

Project Waiver Requests (PWR)

Toggle all accordion sections
  1. 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 do not 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 own 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).
  2. Will Freddie Mac review a PWR for a requirement that is not 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.

  3. When submitting a PWR, which condo HOA questionnaire should I upload?

    You should upload the questionnaire that you are using to underwrite the loan. This may be a proprietary questionnaire specific to your firm, or the Government Sponsored Enterprise (GSE) questionnaire.

  4. 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.

  5. How do I know if my PWR is approved? [Updated 10/05/2022]

    A Loan Advisor portal 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 loan file in the event it is selected for quality control or otherwise requested by Freddie Mac.

  6. How quickly can I find out if my PWR is approved?

    We will 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.

General Not Eligible

Toggle all accordion sections
  1. 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.

  2. 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 condominium project, Freddie Mac will not purchase any mortgage secured by a condominium unit in such condominium project.

  3. How can I appeal a Not Eligible status? [New 2/26/2024]

    Appeals can be submitted by Sellers 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.

  4. 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? [New 2/26/2024]

    Freddie Mac Seller/Servicer: If the Freddie Mac Loan Advisor® tool you are using does not provide the specific project review and/or general eligibility requirement(s) that have not been met, you can call the Customer Support Contact Center (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.

  5. What is an authorized representative of the HOA? [New 2/26/2024]

    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 condominium project, the association has no ownership interest in the common elements.

  6. 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 (Guide Section 5701.9), Exempt From Review (Guide Section 5701.7), under a...

    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 (Guide Section 5701.9), Exempt From Review (Guide Section 5701.7), under a negotiated term of business or otherwise.)? [New 2/26/2024]

    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 Guide Section 5701.10(d)(v).

  7. 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 Guide Section 5701.10 for details) for a particular project. We will not provide the number of projects or a list of projects with any PAR finding status (e.g., Green, Yellow, etc.), including the Not Eligible status PAR finding.

  8. How is a project’s Not Eligible status conveyed in Condo Project Advisor, Loan Product Advisor® (LPASM), Loan Quality Advisor® and Loan Selling Advisor®? What if the Not Eligible status of a...

    Question: How is a project’s Not Eligible status conveyed in Condo Project Advisor, Loan Product Advisor® (LPASM), Loan Quality Advisor® and Loan Selling Advisor®? What if the Not Eligible status of a project cannot be assessed due to a system error or cannot be validated (Loan Selling Advisor and Loan Quality Advisor)?

    Answer: Messages will be returned in Condo Project Advisor, LPA, Loan Quality Advisor and Loan Selling Advisor including messages indicating Condo Project Advisor is unavailable. For information on feedback messages, see the following:

     

  9. 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? Will the project name be provided in the messages for these tools?

    Subject unit address is used and not the project’s name. The project name will not be provided in the LPA, Loan Quality Advisor or Loan Selling Advisor messages.

  10. 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 condominium unit in a condominium 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 Guide Section 5701.10(d)(v).

  11. Will Loan Selling Advisor stop delivery of a mortgage secured by a unit in a project with a Not Eligible status?

    Beginning on February 26, 2024, Sellers will receive a message in Loan Selling Advisor stating either: (i) that the mortgage is secured by a unit in a condominium project that has a PAR finding of Not Eligible in Condo Project Advisor and is ineligible for sale to Freddie Mac or (ii) that the Not Eligible status of a condominium project cannot be validated and the mortgage must be reassessed at a later time. Note that even though this message doesn’t stop the delivery of this mortgage, the mortgage is not eligible for sale to Freddie Mac. The delivery of a mortgage secured by a unit in a condominium project with a Not Eligible status will be stopped starting April 29, 2024.

  12. If I have information that a project should or should not have a Not Eligible status, where should I send it?

    Sellers 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 Guide Section 5701.10(d)(vi).

These FAQs are not a replacement or substitute for the requirements in the Freddie Mac Single-Family Seller/Servicer Guide or other Seller/ Servicer Purchase Documents