
1072 2017-2025 Form
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People also askform 1072
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Why is Fannie Mae sending me a letter?
You may have received a letter from us notifying you that we purchased your loan. The letter is informational, and you do not need to take any action.
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What is the short form for condominium?
A condo, short for condominium, is an individually owned residential unit in a building or complex comprised of other residential units.
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What is FNMA Form 1076?
The Condominium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility.
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What questions are on a condo questionnaire?
It includes questions about: Amendments in the original offering plan. Building's original and revised status (whether it started out as condominium or something else) Financial information about the building. How many people living in the building own the condos, and how many are renting them out.
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What does it mean when a condo is Fannie Mae approved?
Fannie Mae and Freddie Mac (federal enterprises which set the rules for 30-year, 20-year and 15-year fixed-rate loans) have specific requirements for condo loans. A “Fannie Mae approved condo” means the condo in questions meets or exceeds those requirements, and the condo is eligible for federal financing.
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What is a 1076 addendum?
Per Fannie, Form 1076 (available here) “helps lenders collect data to determine condo project eligibility.” Form 1076 is a tool to help assess risks associated with lending on the specific condominium or co-op, including its financial stability, condition, and marketability of the building.
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What is Fannie Mae form 1076?
The Condominium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility.
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What is a condo questionnaire template?
A condo questionnaire is a form sent to a condo development by a lender when a potential borrower applies for a mortgage. The questionnaire allows the lender to determine if the condo meets its requirements for a loan. If the requirements are met, the lender can in turn consider providing a loan to the condo buyer.
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