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      🗓️ Recorded: 7/24/2025
      ⏱️ Est. Time: 65 mins
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      Training on Property Types - Condos

      This training session provides an in-depth exploration of property classifications, with a special emphasis on condominium-related processes and requirements. The session will open with Vera Augustyniak presenting an overview of CondoSimply, along with key Rocket-specific guidelines related to condominiums.

      What this session covers:

       
      Introduction to Condos Condos are the most complicated property type, requiring specialized training.
       
      Rocket Condo Tools Overview Introducing Pathfinder, Condo Killer, and the Condo Simply tool.
       
      Condo Killer Key list of questions to identify issues that would make a condo project ineligible.
       
      Rocket's Condo Policies Clarifying Rocket's stance on non-warrantable loans and FHA spot approvals.
       
      Condo Simply Demo Demonstration of the tool for searching and verifying condo project approvals.
       
      FHA/VA Streamline vs. Full Doc Explaining that FHA Streamlines and VA Earls do not require active project approval.
       
      Determining Review Type Using the tool to classify a loan as a Type A (Limited) or Type B (Full) review.
       
      CPM Findings Integration Notification that all condo findings automatically include Fannie Mae's Condo Project Manager (CPM) status.
       
      Limited vs. Full Review Docs Outlining the document requirements, noting that a full review requires a budget and a full questionnaire.
       
      Detached/Small Condo Projects Special review for detached condos and projects with four units or less (Type V reduced project review).
       
      Master Policy Requirements Detailing the need for the master policy and the specific requirement for inflation guard on Fanny/Freddy loans.
       
      HO6 (Walls-In) Policy Requirement for a separate HO6 policy if the master policy does not cover the unit's interior and improvements.
       
      Wholesale Recommendation Suggesting wholesale for attached condos so Rocket manages and pays for the required condo documentation.