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Mortgage experts weigh in on GSE condo updates
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Mortgage experts weigh in on GSE condo updates
Fannie Mae and Freddie Mac last week enacted updates to condominium project standards and property insurance rules for one- to four-unit properties and larger developments, aiming to lower costs for homeowners. The moves have been met with mixed opinions from mortgage professionals. The updates, which Fannie Mae and Freddie Mac announced on March 18, allow greater leeway in how replacement cost coverage is calculated, including permitting cash v…
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