Freddie Mac Form 477 (Fannie Mae Form 1077) Condominium Project Questionnaire - Short Form

What Is Freddie Mac Form 477 (Fannie Mae Form 1077)?

This is a legal form that was released by the Federal Home Loan Mortgage Corporation (Freddie Mac) on March 1, 2016 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Freddie Mac Form 477?A: Freddie Mac Form 477 is a questionnaire used for condominium projects.

Q: What is Fannie Mae Form 1077?A: Fannie Mae Form 1077 is another name for Freddie Mac Form 477.

Q: What is the purpose of Form 477?A: Form 477 is used to gather information about condominium projects for lending purposes.

Q: Who uses Form 477?A: Lenders, mortgage brokers, and loan underwriters use Form 477.

Q: What information does Form 477 require?A: Form 477 asks for details about the condominium project, such as its legal structure, financial stability, insurance coverage, and maintenance.

Q: Why is Form 477 important?A: Form 477 helps lenders assess the eligibility and risk associated with lending on a particular condominium project.

Q: Is Form 477 mandatory?A: The use of Form 477 is not mandatory, but many lenders and loan underwriters require it.

Q: Are there any fees associated with Form 477?A: There are no fees associated with submitting Form 477.

Q: Can I complete Form 477 on my own?A: Form 477 is typically completed by the condominium association or its authorized representative.