Effective January 1, 2022, Fannie Mae and Freddie Mac announced that they will not purchase loans on condominium units in projects with significant deferred maintenance or unsafe conditions, where there is a failure to obtain a certificate of occupancy, where there is a failure to pass a regulatory inspection, where there has been an issuance of large special assessments, or where there is a failure to reserve 10% of the annual budget for maintenance and repairs. Residential condominium purchasers and their attorneys should be aware, so that additional information beyond the traditional information required by Section 22.1 of the Illinois Condominium Property Act can be obtained in order to allow the buyer’s lender to have the information needed by Fannie Mae and Freddie Mac. For Condominium Associations, this may also mean that the Association may need to review available information and conditions, and be prepared to generate the additional information.