What Condo Associations Need to Know About Fannie Mae’s Reserve Changes — and California’s AB 2050
Condominium associations are facing increasing pressure to strengthen their reserve funding, driven by both lending standards and potential legislation. Fannie Mae is considering raising its minimum reserve contribution requirement from 10% to 15% of an association’s annual budget—a 50% increase that could directly affect mortgage eligibility for buyers. Communities that fail to meet these thresholds may see reduced […]