Lenders will be prompted with automated messaging that suggests when a building should be submitted for possible "project certified" status, which could make lenders eligible for streamlined underwriting after a short turnaround period if they request a review.

There are still limits to what building requirements get signed off on in the new PC certification, but it does minimize the follow-up underwriting that needs to be done.

Project certified is one of the multiple responses lenders may receive when entering a building's details in the government-related mortgage investor's technology platform. The others are: green, yellow, incomplete assessment or not eligible. Other responses still require full underwriting.

If lenders get the  "not eligible" response, which Freddie said is rare, starting on Feb. 26 they or the homeowners association may be able to submit an appeal that was not possible before. 

Freddie Mac has no charge associated with automated inquiries, new prompts or the appeal.

Procedural limits on condo originations at Freddie and competitor Fannie Mae aimed at preventing issues like the Surfside building collapse have frustrated lenders, who will see if this helps.

"We are committed to continuing to find ways to help streamline condo loan originations, while helping lenders ensure that condo homebuyers are put on a path of sustainable and successful homeownership in condo communities," said Tanya DeLia, single-family vice president of collateral risk management at Freddie Mac, in an email.