Selling Guide

Published December 16, 2020

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What are the project type codes for units located in a project?

Delivery Requirements

When delivering a loan for a unit located in a project, the lender must provide the Project Type Code and any applicable special feature codes as shown in the following table. The lender must also report all other applicable special feature code(s), including those specified in the Lender Contract and in the Special Feature Codes document on Fannie Mae's website.

Project Type Code Description
E Established PUD project
F New PUD project
P Limited Review—New condo project
Q Limited Review—Established condo project
R Full Review (with or without CPM)—New condo project
S Full Review (with or without CPM)—Established condo project
T Fannie Mae review through PERS—Condo project that received a Final Project Approval through PERS using the standard or streamlined process
U FHA-approved condo project
V Condo project review waived - for certain project and transaction types
1 Full Review—Co-op project
2 Fannie Mae Review through PERS—Co-op project
Special Feature Code Description
588

Detached Condominium

Used to identify detached units in a condo project

296 Project Eligibility Waiver

Used to identify loans for which Fannie Mae has provided a loan-level waiver for a specific project eligibility requirement

For additional information, see B4-2.1-01, General Information on Project Standards.

 

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