Fannie Mae's lender-facing system for reviewing, certifying, and checking condominium project eligibility.
Condo Project Manager (CPM) is Fannie Mae’s lender-facing system for entering project information, checking project status, and documenting condominium project review and certification.
CPM can affect whether a lender can deliver a conventional mortgage secured by a condo unit to Fannie Mae. It applies automated business rules to information entered by the lender and returns project-level statuses, messages, or certification results.
The system does not independently inspect the building or collect the association documents. The lender remains responsible for obtaining accurate records, entering correct data, reviewing requirements outside the tool’s decision, and maintaining the supporting loan-file documentation.
The lender or project-review team uses CPM during Condo Review, generally after the unit and project are identified. Current Fannie Mae workflows use CPM to assist with eligible lender-delegated Condo Full Review projects.
A borrower normally does not log in to CPM. The loan officer may instead report that the lender is checking project status, adding the project, completing a certification, resolving a message, or waiting for documents needed to finish the entry.
| CPM can help the lender… | CPM does not… |
|---|---|
| identify the project and view recorded status information | approve the borrower’s credit, income, or assets |
| enter project facts and apply system rules | obtain association records automatically |
| document a lender certification or decision | guarantee that lender-entered data is accurate |
| surface delivery restrictions or unavailable status | replace every insurance or project requirement |
| maintain project-review workflow information | provide a permanent approval for all future loans |
The lender must read the actual result and its conditions. A favorable message may cover defined project requirements while leaving insurance, transaction, or loan-level checks to the lender.
Project information, restrictions, certifications, and supporting documents can change or expire. A new repair issue, insurance problem, litigation matter, association update, or status correction can alter the workflow. The lender may also need to recertify a project or obtain current evidence for a new transaction.
An earlier CPM result therefore should not be presented as a lifetime project guarantee. The current lender must document the current mortgage under the current requirements.
A lender is completing a full review of an established condo project. Its reviewer collects the questionnaire, budget, meeting minutes, reserve information, and project records, then enters the required facts into CPM. The system returns a certification result, which the lender places in the loan file. The lender separately verifies the master insurance coverage and completes the borrower and unit underwriting.
Condo Review is the broader project-underwriting process. CPM is one agency-specific tool used in that process.
Condo Project Eligibility is the determination that a project fits a mortgage channel. CPM helps a lender document parts of that determination for Fannie Mae transactions.
A Condo Questionnaire collects project facts. The lender may use those facts when completing CPM, but the questionnaire and system are not the same.
Desktop Underwriter evaluates the mortgage application through Fannie Mae’s automated underwriting workflow. CPM focuses on condo project review; neither tool replaces the lender’s full responsibilities.