Do we lend in projects (Condos/Coops/PUDs) that have re-sale, age, income, down payment, or any other owner-related restrictions?
Projects with any sort of re-sale restrictions present a severely negative impact on the marketability of the unit in the event borrower defaults and this becomes an REO. It is important to identify what the restrictions are in order to determine project warrantability and eligibility: For all other re-sale or owner-related restrictions not identified above, […]