The Real Deal Miami

14 more condos get Fannie Mae special approval

March 15, 2010 09:58AM

Fannie Mae has given its special approval designation to 14 South Florida condos today, bringing the number up to 84, including 79 in Miami-Dade County. 70 condos had first received the approval at the end of February. Buyers can now use conventional financing for units in these condominium projects, which had previously failed to meet all the requirements for standard project eligibility. Now loans secured by units in these projects are eligible for delivery to Fannie Mae. Each week Fannie Mae releases an updated list of condos which have received the designation. Five projects are outside Miami-Dade County, including two in Broward and one in Palm Beach County. TRD