Condo Project Manager Release Notes
Version 5.0
March 17, 2015
During the weekend of April 18, 2015, Fannie Mae will update Condo Project Manager™
(CPM™) with the release of Version 5.0.
The updates in CPM Version 5.0 are described below. These changes are being made to
align with the Fannie Mae Selling Guide project standards policy requirements announced in
November 2014 (in SEL-2014-13). This release also includes enhancements to provide clarity
and consistency related to project standards and improvements to enhance the usability of
the application, making it easier to do business with Fannie Mae. Highlights of the changes
are provided below:
 New, Modified, or Removed CPM Project Review Questions
 New CPM Data Fields related to the Project’s Homeowners’ Association (HOA)
 Reduce Effective Time Period for Project Certification for Established and 2–4 Unit
Project Types
 New User Certification Language for All Project Types (New, Established, and 2–4
Units)
 Change Status Messaging to Replace “Expedited” with “CPM Full Review”
 Update definitions related to Project Review Type Codes
 Additional CPM Enhancements
New, Modified, or Removed CPM Project Review Questions
CPM Version 5.0 will include the following updates to project review questions that will apply to new
certifications and re-certifications only:
•
New CPM Project Certification Questions for All Project Types (New, Established, and 2–
4 Units)
New certification questions will be added to the Guide Eligibility and Project Information screens to
ensure alignment with the current published Selling Guide policy.
•
Modify CPM Project Certification Questions for All Project Types (New, Established, and
2–4 Units)
Existing certification questions will be modified to provide more clarity and consistency on project
standards and to match current published Selling Guide policy. Existing questions have been modified
in the Guide Eligibility and Project Information screens.
© 2015 Fannie Mae. Trademarks of Fannie Mae.
3.17.2015
1
•
Replace Existing Insurance Questions with New CPM Insurance Question for All Project
Types (New, Established, and 2–4 Units)
Existing insurance-related questions are being replaced with one insurance question.
•
Remove Existing Appraisal-Related Questions for New Project Types
Existing CPM appraisal-related questions are being removed.
Refer to the new CPM Version 5.0 Project Review Questionnaires for more detail.
New CPM Data Fields related to the Project’s Homeowners’ Association (HOA)
New data fields will be added to the Project Information section within CPM to be completed by lenders
when certifying a project. These data fields include HOA Name, HOA Tax ID (the HOA’s federal tax
identification number), and Master Association Name. The HOA Tax ID field has also been added to
the Project Search screen.
Reduce Effective Time Period for Project Certification for Established and 2–4
Unit Project Types
The time period during which a project certification remains in effect will be reduced from 360 days to 180 days
for all new certifications and re-certifications. This pertains to Established and 2–4 unit project types only.
Existing project certifications will not be affected.
New User Certification Language for All Project Types (New, Established, and 2–
4 Units)
New user certification language will replace the existing language for all project types when certifying a project.
This change applies to all new certifications or re-certifications of existing projects. Existing project
certifications will not be affected.
Change Status Messaging to Replace “Expedited” with “CPM Full Review”
The label “Expedited” will be replaced with “CPM Full Review” in all CPM status messages. For example,
“Expedited Ineligible” status will change to “CPM Full Review Ineligible”. This change applies to new
certifications and re-certifications. Existing project certifications will not be affected.
Update Definitions Related to Project Review Type Delivery Codes


Project Type Code R
o Existing Language: Expedited Review or Lender Full Review – New Projects
o New Language: Full Review – New Projects (with or without CPM)
Project Type Code S
o Existing Language: Expedited Review or Lender Full Review – Established or Two-Unit to
Four-Unit Projects
o New Language: Full Review – Established or Two-Unit to Four-Unit Projects (with or without
CPM)
© 2015 Fannie Mae. Trademarks of Fannie Mae.
3.17.2015
2
Additional Enhancements
To assist lenders with navigation and enhance usability, the following additional enhancements will be included
in this release:



CPM Glossary page will be updated with new language consistent with the Selling Guide.
Project Review Forms page will be updated with New Questionnaires for all project types.
Lender resources will be updated on the CPM web page at
https://www.fanniemae.com/singlefamily/condo-project-manager.
For More Information
Lenders that have questions about these CPM updates may contact their Fannie Mae Technology Account
Manager or contact Fannie Mae via email at [email protected].
© 2015 Fannie Mae. Trademarks of Fannie Mae.
3.17.2015
3