New rules raise the bar for condo mortgages in Florida

NEW -> Contingent Buyer Assistance Program
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:

"Correction: An earlier version of this report mistakenly said the new Fannie Mae condo guidelines applied to buildings in Florida alone. The guidelines apply to new condos across the country. 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."
 
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