Posted by Les on August 23, 2003 at 10:55:43:
FNMA “Warrants” condo properties, based, as I understand it, largely on the ratio of rental to owner occupied units. There may be more to it than that, but that seems to be one of the main criteria. The idea being it affects the risk of the loan.
Many lenders will not lend if the properties not warranted, but there are a few that do.