Freddie Mac Seller/Servicer Guide 5705.3: Ineligible Cooperative Projects
This section contains requirements related to:
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 5705.3 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) Ownership of Cooperative Project land and Cooperative Units
- (b) Cooperative hotel
- (c) Cooperative Project with multi-dwelling units
- (d) Cooperative Project with excessive commercial or non-residential space
- (e) Tenancy-in-Common Cooperative Project
- (f) Timeshare Cooperative Project with segmented ownership
- (g) Houseboat Cooperative Project
- (h) Ownership and use of Common Elements in Cooperative Project
- (i) Cooperative Project in litigation
- (j) Cooperative Project with excessive single-investor concentration
- (k) Continuing Care Retirement Community (CCRC)
- (l) Cooperative Projects composed of Manufactured Homes
- (m) Cooperative Project with mandatory dues or similar membership fees for use of Amenities such as clubhouses or recreational facilities
- (n) Limited equity Cooperative Project
- (o) Leasing Cooperative
- (p) Sponsor/developer interest in Cooperative Project
- (q) Project in need of Critical Repairs
- (r) Project with an evacuation order
- (s) Cooperative Projects terminating or involved in insolvency proceedings
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.