Items Tagged with 'condos loans'

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  • New Penn Financial rolls out non-agency loans for condos

    Allows larger portion of commercial space, fewer pre-sale requirements, more
    New Penn Financial is expanding on its financing options for condominiums. The lender announced this week that it is rolling out non-agency loans for condos. The new loan product, called SmartCondo, is the newest loan in the lender’s SMART Series, a collection of non-agency loans that provide a variety of options for “highly qualified borrowers.”
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  • Closing condos under litigation: Fannie Mae now gives lenders a way out

    Loan Officers: Lend with confidence!
    Fannie Mae finally updated their litigation requirements on condominium projects! The guidelines now allow the lender more flexibility to determine, with confidence, whether litigation is minor or major, what is considered minor, and provide a way for lenders to warrant the project despite the litigation. Here's how.
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