The New Fannie Mae and Freddie Mac Condo Questionnaire by Mike Stonestreet
Fannie Mae & Freddie Mac are two of the biggest players in the mortgage market, particularly the secondary mortgage market, where mortgages are bought and sold after they have been originated. This article will look at a brief history of Fannie & Freddie and the new condominium questionnaire requirements. We will also go over some best practices for board members and the pros and cons of filling out the questionnaire vs. opting out. A Brief History Fannie Mae was created in 1938 as part of the National Housing Act, and Freddie Mac was created in 1970 as a result of the Secondary Mortga...