New rules raise the bar for condo mortgages in Florida

Holy crap ! That's huge ! Anyone in the lending industry in CA know if it's hit here yet? Downtown lofts are going to get creamed !
 
Wow. This is big. Be sure to read the update at the bottom:



<em>"Correction: An earlier version of this report mistakenly said the new Fannie Mae condo guidelines applied to buildings in Florida alone. <strong>The guidelines apply to new condos across the country.</strong> Fannie Mae has singled out Florida condos alone for a closer review itself to ensure buildings meet the guidelines. In other states, lenders conduct the reviews."</em>
 
[quote author="Trooper" date=1233298739]Holy crap ! That's huge ! Anyone in the lending industry in CA know if it's hit here yet? Downtown lofts are going to get creamed !</blockquote>


It's here:



<a href="http://www.calculatedriskblog.com/2009/01/genworth-tightens-mortgage-insurance.html">http://www.calculatedriskblog.com/2009/01/genworth-tightens-mortgage-insurance.html</a>
 
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