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The Federal Reserve is anticipated to cut interest rates in September, and many borrowers are left wondering if they should wait to take out a loan. Our research suggests that waiting for future interest rate cuts may not be a wise strategy for those looking to secure a mortgage or other long-term loans. A common…

Condo projects in California are currently facing significant challenges related to special assessments for deferred maintenance and compliance with SB-326, a law specifically targeting balcony repairs. Here’s a breakdown of how these issues are impacting condo associations and homeowners: Special Assessments for Deferred Maintenance Background: Many condo associations in California are encountering the need for…

State Farm’s decision to discontinue 30,000 homeowners insurance policies in California, specifically affecting 50 zip codes in San Diego County, has sent shockwaves through affected communities, particularly in Rancho Santa Fe. This move, slated to commence in the summer, comes as a response to the company’s assessment that these policies are no longer financially viable…

The Fannie Mae (FNMA) Ineligible Condominium list is growing faster than we can keep track of. Projects are added literally every day on a nationwide basis and the effect it has on financing these projects are hurting potential home buyers. Once added to the FNMA ineligible list, the majority of lenders who normally finance these…

On December 7, 2023, Fannie Mae” announced that it will make its secret “Condo Unavailable Projects and Phases Report” public.  Previously, the information was available only to lenders, who were not allowed to disclose it to the general public.  The list will only be available to homeowners’ associations. A Fannie Mae spokesperson wrote in an…

As housing prices continue to climb, an increasing number of Americans are becoming acquainted with conforming loan limits, the figures that differentiate the most prevalent loan types from jumbo loans. These limits are subject to annual adjustments and vary according to geographical regions. The conforming loan limit is determined annually by the Federal Housing Finance…

Fannie Mae, officially the Federal National Mortgage Association, possesses a discreet and expanding nationwide roster of condominium properties, known as a blacklist, where it refuses to acquire mortgages. The affected developments are not notified of their inclusion in this list, which lenders access through a Fannie Mae tool. In order to maintain confidentiality, Fannie Mae…