Fannie Mae Places Tough New Requirements for Condos on Singer Island

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Fannie Mae has placed tough new requirements on mortgages for Singer Island condominiums, as well as, the rest of Florida.  They buy the majority of home loans from lenders, so it wields significant power in the making of mortgages. Fannie-backed loans generally offer the best rates and lowest down payments for borrowers. The standards, which took effect in late January …