A fresh look at condo lending.

A condo buyer finds the right place. Then the conversation turns to the project, the paperwork and whether there is a path forward. Redondo gives wholesale brokers another program to explore, with a condo review that does not require an HOA certificate.

Start with the condo.

Redondo includes warrantable and non-warrantable condo options. Removing the HOA certificate requirement can change where the conversation starts. Insurance and property requirements still matter: the matrix calls for master-policy review and HO-6 interior coverage, with supplemental coverage when needed.

Deferred maintenance and litigation deserve a specific review with your AE. They are not automatic exceptions. Bring the project facts, insurance information and details of the subject property to the conversation.

See more of the borrower’s story.

There are reasons to look beyond the condo, too. Redondo includes asset-based qualification, ITIN borrower options and a Near Miss path for recent credit events. Each has its own documentation and transaction requirements.

For a borrower who owns an entire business, eligible business-account cash may support asset qualification. The asset section also includes cryptocurrency with valuation reductions and documentation requirements. These qualifying-asset provisions are separate from funds used for down payment or closing.

Make the next conversation useful.

Start with the property, loan purpose, credit profile and the way the borrower will document income or assets. Your AE can help identify the applicable loan tier and the documents needed to review the loan.