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Status definitions used in Condo Project Manager
Contact Project Standards:
Please contact project_standards@fanniemae.com for project certification assistance.
Certified by Lender:
The lender has successfully answered all questions in the CPM Full Review process and the system has qualified the project and certified it by giving an expiration date.
CPM Full Review Ineligible:
Ineligible according to FannieMae Selling Guide. User answered the second set of questions and the system arrived at this.
CPM Full Review Ineligible - PERS Review Required:
Ineligible for CPM Full Review according to the Fannie Mae Selling Guide. Project must be submitted to the Project Eligibility Review Service (PERS) for review and approval.
FannieMae Acceptance Completed:
Former 1028 form. Fannie Mae has completed a full review and the project is eligible. This status prohibits lenders from completing any other type of certification on this project. THIS STATUS HAS BEEN RETIRED.
FannieMae Acceptance Expired:
1028 has expired. THIS STATUS HAS BEEN RETIRED.
FannieMae Approval Application Suspended:
Application process for PERS approval has been suspended by Fannie Mae.
FannieMae Approval Completed:
Fannie Mae has completed a full review and the project is Eligible.
FannieMae Approval Expired:
Fannie Mae Approval has expired.
FannieMae Approval Pending:
Application has been submitted to Fannie Mae for review under the PERS process but has not yet been granted conditional or final approval.
FannieMae Conditional Acceptance Expired:
1027 conditional acceptance has expired. This is the status for outstanding old 1027 applications in CPM; over time, these will revert to “FannieMae Approval Completed” or “FannieMae Conditional Approval Expired”. THIS STATUS HAS BEEN RETIRED.
FannieMae Conditional Approval:
Fannie Mae has issued a conditional approval with outstanding conditions that must still be met.
FannieMae Conditional Approval Expired:
Fannie Mae’s conditional approval has expired with outstanding conditions.
FannieMae Special Approval:
Fannie Mae has completed a specialized review and the project is eligible.
FannieMae Special Approval Expired:
The status has expired.
Guide Ineligible:
The lender has answered yes to one of the questions that does not meet the required reps and warrants in the selling Guide. The issue is not waivable and the loan cannot be delivered to Fannie Mae.
Incomplete Certification:
Lender started a review on this project but didn't complete the process by submitting the project for review.
Lender Certification Expired:
Each Lender Certification will be given a date that the certification will expire on. This means that the lender must update the project information and recertify the project in CPM in order to get a new expiration date.
No FannieMae Status:
There is no project phase level status available.
Not Certified by Lender:
The Lender has entered the project into the system but they have not started the certification process
Owner Occupied, 2nd Home Certification:
In certain instances the CPM system will respond with a loan level condition where the loan must be either owner occupied or second home in order for the lender to deliver the loan to us.
Temporary Certification:
Project Standards has extended or changed the expiration of a review.
Temporary Certification Expired:
Project Standards has extended or changed the expiration of a review and that date has passed.
Unavailable:
Fannie Mae user has taken project out of the queue and this project phase is ineligible for any CPM Full Review.
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