St. Petersburg luxury real estate team breaks down Fannie Mae and Freddie Mac changes and what they mean for Tampa Bay condo buyers, sellers, and associations.

We’ve always believed that buying or selling a condominium requires understanding more than the unit; it requires understanding the association behind it. The requirements are new; the homework isn’t.”

— Jennifer Thayer

ST. PETERSBURG, FL, UNITED STATES, August 31, 2026 /EINPresswire.com/ — The condominium lending landscape changed on August 3, and Jennifer Thayer Group is launching short videos to help Tampa Bay buyers, sellers, owners, and condominium associations understand what the changes mean before they affect a transaction.

The series will explain recent changes from Fannie Mae and Freddie Mac, including the retirement of Limited and Streamlined review pathways for many condominium loans and the expanded use of Full Project Review. Under the updated requirements, lenders may evaluate a condominium association’s financials, reserves, insurance, litigation, deferred maintenance, structural documentation, and overall condition as part of the financing process.

“The lending rules changed. Our process didn’t,” said Jennifer Thayer, Founder and Principal Agent of Jennifer Thayer Group. “We have always believed that buying or selling a condominium requires understanding more than the unit; it requires understanding the association behind it. We have been collecting reserve studies and financial statements and asking questions about assessments and litigation for years. What has changed is that more of the market now has to do that work before a transaction can move forward.”

For condominium buyers and sellers, the change makes the financial and physical condition of the building an increasingly important part of the real estate decision, not simply an issue for the lender to address after a contract is signed.

What Changed August 3

The changes were announced March 18, 2026, through Fannie Mae Lender Letter LL-2026-03 and a corresponding Freddie Mac bulletin. For loan applications dated on or after August 3, condominium projects with more than 10 units generally move to Full Project Review unless they qualify for a waiver.

The review can include the association’s annual budget, reserve funding, delinquency rates, master insurance coverage, pending litigation, deferred maintenance, structural reports, and special assessments.

A second phase of changes is expected in January 2027, including increased reserve-funding expectations for many conventional loans and greater reliance on the highest recommended funding level identified in a reserve study. Reserve studies more than three years old may also present an issue during lender review.

The changes arrive as Florida condominium associations continue raising the bar on building safety and financial transparency. Milestone inspections and structural integrity reserve studies are now standard practice across Pinellas County, and many associations have spent recent years strengthening reserves, updating insurance, and documenting building conditions. The new guidelines largely ask for the information that work already produces, which means a well-prepared association can respond to a lender quickly and keep its owners’ units accessible to the widest range of buyers.

The first video is set to launch on the Jennifer Thayer Group YouTube channel in September, with the remaining two to follow. Topics will include:
-What a Full Project Review is, who supplies the documentation, and why approvals are taking longer than they used to
-What sellers should have assembled before bringing a condominium to market
-What buyers should expect a lender to ask for, and when to raise the question of a building’s eligibility

Companion materials are available on the Jennifer Thayer Group website.

Due Diligence Isn’t New Here. For Jennifer Thayer Group, condominium due diligence is not a response to a new lending requirement. It has been part of the team’s approach for two decades.

Jennifer Thayer began her career in 2005 as the on-site exclusive sales representative for Cantor Development at Signature Place. From 2015 to 2018, she served as the on-site Sales Executive for ONE St. Petersburg, playing a direct role in the successful sellout of 67% of the building’s residences, the largest luxury development in downtown at the time. That development-side experience gives the team a perspective that extends beyond the individual condominium unit to the building, association, financial structure, and long-term ownership considerations.

“The requirements are new,” said Thayer. “The homework isn’t.”

About Jennifer Thayer Group

Jennifer Thayer Group is a luxury real estate team based in downtown St. Petersburg, Florida, operating under Keller Williams St. Pete. The group has closed more than $750 million in sales since 2018, ranks among the top 1% of Pinellas County agents, and specializes in luxury condominiums, waterfront residences, and new development throughout Tampa Bay.

Jennifer Thayer
Jennifer Thayer Group
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