The Wall Street Journal reports that:
Moves by government-controlled mortgage firms could drive up cost of borrowing to buy units in resort areas
Fannie Mae and Freddie Mac, the government agencies that buy conventional loans, are imposing new standards that could affect loans on condos in resort areas where there are a lot of vacation rentals, and hotel-like amenities. Some condominium projects may be deemed ineligible for these government-backed loans. The new rules appear to be targeting “condo hotels”, i.e., projects organized centrally throughmanagement, rental and realty companies than on individuals who offer their units on Airbnb Inc. or other hosting services.
Read the complete article at: https://www.wsj.com/articles/fannie-freddie-tighten-rules-for-condos-in-vacation-locales-11610208000