Freddie Mac issued Bulletin 2026-C (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:

• Expanded the “Exempt from Review” project underwriting option to apply to new and established condominium projects that consist of 2 to 10 units (for condominium projects consisting of 5 to 10 units, lenders must not use “Exempt from Review” project underwriting option if the condominium project is part of a Master Association);
• Updated a condominium project review requirement that new condominium projects with attached units in Florida no longer are required to have an “Approved by Fannie Mae” status designation in Fannie Mae’s Condo Project ManagerTM;
• Updated a condominium project review requirement that established condominium projects with attached units in Florida by retiring the loan-to-value limits requirement reflected in Section 5701.9 (Reciprocal Project Review) with a “Certified by Lender” status designation in Condo Project Manager;
• Retired the 50% owner occupancy requirement in Section 5701.5 (Established Condominium Projects) for an investment property in an established condominium project (no longer requiring lenders to determine if the condominium project complies with the owner occupancy requirement);
• Retired the “Streamlined Review” condominium project review type for established condominium projects, requiring lenders to use the “Established Condominium Projects” condominium project review type;
• Enhanced reserve study requirements related to condominium project review requirements;
• Increased replacement reserve requirements related to condominium project review requirements;
• Retired the Project Waiver Request (PWR) owner occupancy category due to the retirement of the 50% owner occupancy requirement for established condominium projects (no longer requiring lenders need submit a PWR for established condominium projects);
• Updated property insurance coverage sufficiency requirements (including roofs) for 1- to 4-unit properties;
• Added additional specificity to peril and deductible requirements for 1- to 4-unit properties;
• Updated property insurance coverage sufficiency requirements, loss settlement requirements (including roofs), inflation guard requirement, per occurrence deductible requirements and equipment breakdown requirements, per occurrence deductible requirements, deductible buy-back policies, and steam boiler and machinery or equipment breakdown related to master property insurance for Planned Unit Developments, ground lease communities, condominium projects, and cooperative corporations; and
• Updated HO-6 property insurance requirements associated with a master policy per unit deductible related to coverage sufficiency requirements, peril requirements, deductible requirements, and determining when a unit owner property insurance policy in a project is required.

Revisions related to the retirement of the “Streamlined Review” condominium project review type and enhanced reserve study requirements are effective for mortgages with application received dates on or after August 3, 2026. (lenders, however, may implement immediately). Revisions related to increased replacement reserve requirements are effective for mortgages with application received dates on or after January 4, 2027. Revisions related to updated HO-6 property insurance requirements are effective for mortgages with application received dates on or after July 1, 2026 (lenders, however, are encouraged to implement immediately).  All other revisions went into effect March 18, 2026.

Click to view the Freddie Mac Guide Bulletin 2026-C: https://www.tenaco.com/wp-content/uploads/2026/03/Freddie-Mac-Guide-Bulletin-2026-C-03-18-26.pdf