70 Condo Projects in Florida Have Special Fannie Mae Loan Designation

GSIG LLC

Last week, Fannie Mae updated its list of Florida condominiums that have received special loan approvals. These special loans are meant to boost the state’s troubled condo market by giving more buyers access to Fannie mortgages.

Fannie and sister company Freddie Mac buy the majority of the nation's mortgages from lenders. Now 70 developments have a special designation, meaning lenders can originate and deliver mortgage loans in these condos to Fannie Mae.

With the exception of Sandpiper Cove at Botanica (a 265-unit project in Jupiter), all of these developments are located in Miami-Dade County.

Spokeswoman Amy Bonitatibus concludes:
"Stay tuned, Fannie Mae will be approving more projects in Palm Beach and Broward counties in the weeks and months ahead."