Limited Review has ended. What should condo boards prepare?
A document checklist for associations whose buyers previously relied on Fannie Mae’s shorter project review.
When did Limited Review end?
Fannie Mae retired Limited Review for loan applications dated August 3, 2026 or later. Affected established projects use Full Review or, when eligible, a Waiver of Project Review.
Start with the lender’s requested review path
Ask the lender what applies to the transaction. Do not assume a prior closing establishes current project eligibility.
Build one organized association file
- Adopted budget, reserve schedule and any reserve study.
- Master insurance policies and endorsements.
- Current questionnaire and assessment delinquency information.
- Inspection reports, repair records and special assessment details.
- Governing documents, amendments and relevant litigation information.
Does a smaller association qualify for a waiver?
Some small projects may qualify. A waiver is conditional and does not remove all lender obligations. Have the lender confirm eligibility rather than assuming unit count alone settles the question.
What should boards do next?
Choose a contact for lender requests, track document renewal dates, and ask which records are missing. Our questionnaire checklist helps managers organize the file. The reserve guide covers the next budget change.
Have a condo project that needs a clear picture?
Tell us about your association. We confirm what we need, the timeline and the cost before any work begins.