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Changes to lending rules from Fannie Mae and Freddie Mac alarm NYC condo buildings
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Changes to lending rules from Fannie Mae and Freddie Mac alarm NYC condo buildings
New York City condo buildings where buyers tend to rely on conventional financing face a looming deadline. New, stricter lending guidelines are going into effect with the potential to limit mortgage eligibility, shaking up many condo buildings across the city. The new guidance from Fannie Mae and Freddie Mac issued in March applies to condo buildings only and has several significant changes, including the end of the limited review process by len…
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