Condo Eligibility - Determining CPM/CPA Status

Creation date: 1/8/2025 8:59 AM Updated: 1/8/2025 9:01 AM condo cpa cpm

Hi xxxxx,

The condo being located in a hotel may very well be a deal killer. Conforming guidelines effectively prohibit lending on condos with features/amenities typical of hotels and/or resorts.

When assessing condo eligibility, your first step should be to look up the project in Fannie's CPM and Freddie's CPA databases to determine its status. Statuses of Unavailable and Guide Ineligible indicate that the GSEs have reviewed the project and determined that it does not meet eligibility requirements. Statuses of Approved by Fannie Mae, Lender Certified, and Project Certified indicate that the project review is not necessary as it has already been approved.

I've copied a link below to the job aid that explains the steps to look up project statuses in Fannie & Freddie's databases.

Determine Condo Project Status - Fannie (CPM) & Freddie (CPA) and Add Copies to Encompass - Churchill Mortgage

Please follow the steps shown below to submit your question. REMINDER: If your question is about a loan that’s already been submitted to underwriting, please contact the underwriter. If necessary, ask uw to escalate to Regional UW Manager. (Scenario questions are for loans that have not yet been submitted to underwriting.) Steps:

Step 1: Type your question in the box below.
Step 2: Use dropdown options to provide the required information.
Step 3: Attach any supporting documentation by using the “attach” or “screen capture” options located at the bottom right portion of the form.
NOTE: You do not need to attach documentation that’s already in the Encompass e-folder.

Condo Eligibility - Determining CPM/CPA Status

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