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CondoCheck — Warrantability Report

Lakewood Deconversion Watch

Evanston, IL · 85 units
Generated July 09, 2026 at 23:13 UTC
Likely Unavailable
100 /100
Risk Score
Fannie/Freddie financing is extremely limited or unavailable for this project. Buyers should contact portfolio lenders directly. Cash offers may be preferred by sellers.

Issues Found (8)

  • Project is on the Fannie Mae CPM Unavailable list
  • Building is under deconversion or court-appointed receivership
  • HOA has pending litigation — agency financing disallowed
  • Master insurance policy has gaps or is absent
  • Owner-occupancy is 22% — below the 50% Fannie Mae minimum
  • Investor concentration is 76% — exceeds the 35% agency cap
  • Reserve funding is 4% of budget — below the 10% Fannie Mae floor
  • Active special assessment in place — verify amount with lender

Association Signals

Owner-Occupancy
22% ✗ Below 50% minimum
Investor Concentration
76% ✗ Exceeds 35% cap
Reserve Funding
4% ✗ Below 10% floor
CPM Status
Unavailable ✗ Unavailable
Pending Litigation
Yes ✗ Disqualifying
Master Insurance
Gaps / Absent ✗ Issue
Special Assessment
Active ~ Verify with lender
Deconversion / Receivership
Yes ✗ Disqualifying

Data is for informational purposes only. Warrantability status can change at any time based on HOA financials, occupancy changes, or agency rule updates. Always verify eligibility directly with your lender and consult a licensed mortgage professional before making financing decisions.

Source: http://build-a-programmatic-per-condo-p-1052.launchlab.lt/report/32