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WM Condo & PUD Guidelines for Conventional Loans Fannie Mae Project Classification and Warranty Codes Eligible Condominium Types Q Limited Review (Established project or Established 24 unit project)
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How to fill out fannie mae project classification
How to fill out Fannie Mae project classification:
01
Gather all necessary project information, including the project name, address, and details of the project scope.
02
Determine the project classification category that best aligns with your project. Fannie Mae offers various project classification categories, such as "New Construction", "Substantial Rehabilitation", or "Minor Rehabilitation".
03
Review the project classification guidelines provided by Fannie Mae to ensure you understand the requirements and criteria for each category.
04
Complete the Fannie Mae project classification form, providing accurate and detailed information about the project. Be sure to include all necessary supporting documentation, such as architectural plans, cost estimates, and construction schedules.
05
Double-check all the information entered on the form for accuracy and completeness.
06
Submit the filled-out project classification form and accompanying documentation to Fannie Mae through the designated submission channel, which may be an online portal or a specified mailing address.
Who needs Fannie Mae project classification?
01
Developers and construction companies who are undertaking projects that involve financing through Fannie Mae.
02
Lenders and underwriters who are evaluating mortgage applications and need to ensure that the project meets Fannie Mae's eligibility criteria.
03
Investors and insurers who are assessing the risk associated with Fannie Mae-financed projects.
04
Architects, engineers, and other professionals involved in the design and development of projects seeking Fannie Mae financing, as they need to understand the project classification requirements to ensure compliance during the construction process.
05
Real estate professionals and appraisers who are valuing properties involved in Fannie Mae-financed projects and need to consider the project classification in their assessments.
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What is fannie mae project classification?
Fannie Mae project classification categorizes projects based on specific criteria such as property type, location, and financial stability.
Who is required to file fannie mae project classification?
Property owners or managers who have loans with Fannie Mae are required to file project classification.
How to fill out fannie mae project classification?
To fill out Fannie Mae project classification, property owners or managers need to provide detailed information about the project including property type, financial details, and location.
What is the purpose of fannie mae project classification?
The purpose of Fannie Mae project classification is to assess the risk and performance of projects that have loans with Fannie Mae.
What information must be reported on fannie mae project classification?
Information such as property type, financial stability, location, and any potential risks must be reported on Fannie Mae project classification.
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