The Real Deal Miami

One more condo added to Fannie Mae special approval list

March 22, 2010 10:09AM

Another condominium was added to Fannie Mae’s special approval today,
with the Park View Pointe condo in foreclosure-heavy Cape Coral. The
number of Florida condos that have received the approval is now up to
85 since the approval began
in late February. The special approval designation means buyers can use
conventional financing for units in the building, which had formerly
been ineligible for the standard Fannie Mae project eligibility. Park
View Pointe is just the third condo to receive the designation outside
Miami-Dade, Broward and Palm Beach counties, and the second in Lee
County. TRD