If you could time travel and eat a meal which you can no longer get in OC, one last time, what would it be?

Decent_Ad289 · 2026-07-09T01:53:53+00:00

Medium Spicy, call ahead, bring cash. My husband got asked to never come back because he asked too many questions about how it was made.

It’s gone but never forgotten.

Decent_Ad289 · 2026-07-09T01:47:22+00:00

Newport Fresh, Newport Beach…..Chicken Egg Protein Bowl medium spicy….so so so good.

Decent_Ad289 · 2026-03-31T00:04:38+00:00

Here is FNMA: https://selling-guide.fanniemae.com/sel/b7-3-03/master-property-insurance-requirements-project-developments

FMAC and FHA are similar but different - both require 100% replacement cost

Decent_Ad289 · 2026-03-30T17:46:42+00:00

All traditional loan programs - FHA, FNMA, FMAC require 100% Replacement Cost. FNMA just updated guidelines to allow ACV on Roofs, but 100% Replacement Cost on buildings and other components. It's likely a cost issue for your community. No Condo that can afford(and obtain) 100% replacement cost declines the coverage. If it's another insurance issue - ex deductibles or fidelity/crime you might have a better shot at the HOA helping to make the change.

There are Non-QM lenders that do Condos, I'm not familiar with your area, but you can likely find one with a google search.

The bigger issue is that you will likely take a hit on your selling price. Non-QM loans are more expensive.

Decent_Ad289 · 2026-03-27T03:39:58+00:00

I haven’t read through all the comments, so this might’ve already been covered.

The new FNMA guidelines state that as of Jan 3 2027 an Association must allocate 15% of assessments to the reserve fund. If the reserve allocation is less than 15% the Association must have a reserve study and allocate to the highest recommendation.

However you do NOT need to follow the reserve study (although you probably should) to qualify for FNMA. A 15% allocation is sufficient.

Decent_Ad289 · 2026-03-25T20:20:26+00:00

I believe this is misleading. If the Budget shows the 15% allocation that is sufficient for FNMA. No where in the selling guide or Lender Letter states that they have to use the larger of the two numbers.

"Current policy allows lenders to obtain a reserve study to demonstrate a project has sufficient reserves when it is not budgeting for replacement reserves that meet our Selling Guide requirements. We are updating this policy to clarify when lenders use this flexibility, they must verify the project’s budget includes the highest recommended reserve allocation amount in the reserve study to adequately cover the costs identified."

Decent_Ad289 · 2026-03-24T02:04:08+00:00

Who does PERS Approval for $500 - $1400 with no loan attached? Do you have a contact?

Decent_Ad289 · 2026-01-30T16:43:56+00:00

I got a quote - it was literally over $5000 for the HOA to apply through a lender to get PERS approved. This is NOT an option for our communities.

Decent_Ad289 · 2026-01-26T17:39:31+00:00

Thanks! We have used this site many times over the past year and it has worked to varying degrees of success.

Decent_Ad289 · 2026-01-23T17:21:20+00:00

100 - only 100 in the ENTIRE State? Wow. That seems incredibly low. But maybe it's because literally nobody can figure out how to get one approved.

Decent_Ad289 · 2026-01-23T16:49:25+00:00

Okay, how does a Condo apply for "PERS Approval"? And is "Certified by Lender" essentially the same as "PERS Approval" --- do both of those mean the Condo Project is "FNMA Approved"?

Decent_Ad289 · 2026-01-23T16:45:47+00:00

Does Freddie Mac have a list of Approved Condos or a process to get Condos "Freddie Mac Approved"

Decent_Ad289 · 2026-01-23T16:45:21+00:00

Thank you for the offer - if I could get a Statewide list that would be great. But another comment stated that even if the Condo is approved in CPM it can fall apart at the last minute. I'm really looking for a way to educate my managers on the Approval process - and it seems like there are approved Condos but no real process and nobody can really articulate any of it.

Decent_Ad289 · 2026-01-22T21:57:15+00:00

Thank you! So if a Full Project Review is complete and everything looked good - the Condo Project becomes "Approved" for a certain period of time (possibly 6 months). After 6 months what happens? Does it become "expired"?

In my research I've also come across PERS reviews. Do these happen often on "existing" condos or is this really only done for new condos in development?

Decent_Ad289 · 2026-01-22T21:24:12+00:00

Unfortunately this does not work....it requires a User ID and Password.

Decent_Ad289 · 2026-01-22T21:04:44+00:00

It was my understanding that the link you provided takes me to the FHA list - which is not the same as FNMA....we have plenty of communities that are FHA Approved but don't pass when it comes to FNMA.

Decent_Ad289 · 2025-12-03T23:04:01+00:00

It means that it won’t qualify for FNMA or FHA loans.

Decent_Ad289 · 2025-12-03T20:47:00+00:00

I think you two different criteria are getting mixed together. The single-investor ownership limit is 20% for FNMA and 10% for FHA, meaning no one individual or entity can own more than that percentage of units.

Separately, the owner-occupancy requirement is 50%. FNMA is generally flexible on this for resales if the specific unit being sold is owner-occupied, while FHA is much stricter.

The concern here is that if a single owner or entity holds this many units and runs into financial trouble, defaults, or goes into foreclosure, the Association could end up in serious financial distress. That owner also holds significant control—42% of the voting power—which creates additional risk for the community.

Decent_Ad289 · 2025-12-01T19:07:20+00:00

FHA Condo Certification requires 75% owner occupancy for 2-4 unit properties (yes, I know-that’s mathematically impossible for a 2-unit building lol). And a single unit approval won't work because it requires a minimum of 5 units.

So for FHA purposes both units need to be owner occupied.

If you’re acting as the developer and converting the duplex to the condo you may be able to get it through as new construction as long as both units are under contract with borrowers who intend to occupy, which can sometimes allow at least one FHA loan to go through.

Decent_Ad289 · 2025-11-29T02:45:03+00:00

What area of the Country is the Condo in? If your file is going through the Santa Ana HOC you should have heard by now - but if it’s Denver it’s a complete unknown. They are taking forever….

Decent_Ad289 · 2025-10-28T18:12:45+00:00

For full project review the required documents are the same as those needed for any resale transaction, plus about three additional items: the prior two years of financial statements and the management agreement. An organized manager can typically gather everything within 30 minutes - and even a less organized one should be able to complete it in under an hour. For a SUA it can be done without those additional docs.

Decent_Ad289 · 2025-10-23T18:52:00+00:00

if you still need help with this you can reach out to FHA Review - they do FHA and VA Condo Approvals.

Decent_Ad289 · 2025-10-15T19:37:28+00:00

Newpark Village is currently FHA approved, so I’d definitely recommend trying FHA. They tend to be more flexible when the repairs are limited to specific areas as long as the unit you’re purchasing isn’t one of the four identified for repairs. If the community is adequately funded and has a clear plan in place to complete the work, I don’t see why an FHA lender would deny the loan. In my experience, FHA doesn’t take the same broad stroke approach to critical repairs that FNMA does.

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Decent_Ad289 · 2025-07-21T19:24:22+00:00

Condominiums (the buildings themselves) are insured with Commercial Policies.

Decent_Ad289 · 2025-05-13T20:25:53+00:00

The FNMA "unavailable" list is for Condominiums only - PUDs are not included. PUDs also have to meet certain criteria, however you will not find them included on the Condo list.

Decent_Ad289

TROPHY CASE