Fannie Mae 1076 Condo Questionnaire: Why Manual Completion Fails and How Auto-Fill Changes Everything

If you serve on a condominium board, manage a condominium association, or work in the mortgage industry, you have encountered the Fannie Mae Form 1076 — the Condominium Project Questionnaire.

Every conventional mortgage for a condo unit requires a completed 1076 (Fannie Mae) or 1077 (Freddie Mac). The questionnaire asks detailed questions about the association's financial health, governance, insurance, delinquency, reserves, and legal status. Lenders use the answers to determine whether the project meets eligibility requirements for conventional financing.

In theory, completing the questionnaire is straightforward. In practice, it is one of the most frequent sources of closing delays in condominium transactions.

What the 1076 Questionnaire Covers

The questionnaire is organized into 8 sections:

Section 1: Project Information

Basic identification — project name, address, number of units, unit types (attached/detached), year built, developer status (completed vs. phased), and whether the project has been converted from another use.

Section 2: Insurance

Comprehensive insurance verification: - Master hazard/property insurance (carrier, policy number, coverage amount, deductible) - General liability insurance - Fidelity bond / crime insurance - Flood insurance (if in a flood zone) - Workers' compensation (if the association has employees) - D&O insurance

Each policy requires specific details — not just "insurance on file" but carrier name, policy number, coverage limits, deductible amounts, and expiration dates.

Section 3: Financial Information

• Total annual budget amount
• Total annual assessment income
• Amount in operating reserves
• Amount in replacement reserves
• Whether a reserve study has been completed (and when)
• Any planned or pending special assessments

Section 4: Delinquency

• Number of units 30+ days delinquent on assessments
• Total delinquency amount
• Delinquency percentage (units delinquent / total units)
• Whether any single entity (individual or company) owns more than one unit

This section is critical for Fannie Mae eligibility. Projects with delinquency rates exceeding 15% may be ineligible for conventional financing.

Section 5: Ownership and Occupancy

• Total units in the project
• Number of owner-occupied units
• Number of investor-owned (non-owner-occupied) units
• Whether any single entity owns more than 10% of the units

Section 6: Governance

• Board composition and meeting frequency
• Whether the association is self-managed or professionally managed
• Management company name (if applicable)
• Whether the developer has turned over control to the owners

Section 7: Special Assessments and Litigation

• Any pending or planned special assessments (amount, purpose, timeline)
• Any pending, threatened, or settled litigation involving the association
• Any FEMA disaster declarations affecting the project

Section 8: Additional Disclosures

• Commercial space percentage (if mixed-use)
• Any right of first refusal or transfer restrictions
• Any environmental hazards
• Completion status (if phased development)

Why Manual Completion Fails

The questionnaire requires specific, current, accurate data across multiple domains. For most associations, this data lives in different systems:

• Insurance details → broker's files, certificates of insurance
• Financial data → QuickBooks, spreadsheets, management company reports
• Delinquency → AR aging report (often not current)
• Governance → Meeting minutes, management contract
• Reserves → Reserve study (often years old)
• Litigation → Legal counsel files

When a lender requests a completed 1076, someone — usually the property manager or a board member — must manually gather data from each source, enter it into the form, and hope the answers are accurate and consistent.

The Errors That Delay Closings

1. Stale financial data

The most common error. The budget or reserve balance reported on the questionnaire does not match the most recent financial statements. The lender flags the discrepancy. The board must research and correct. Days are lost.

2. Incomplete insurance information

The questionnaire requires specific policy details — not "we have insurance." When the association cannot immediately produce carrier names, policy numbers, coverage limits, and deductible amounts for every required policy type, the lender holds the file.

3. Incorrect delinquency calculations

Delinquency percentage must be calculated based on units 30+ days past due, not dollar amounts. Boards that report dollar-based delinquency rates — or that use stale aging reports — produce incorrect percentages. If the reported rate pushes the project over Fannie Mae's 15% threshold, the loan may be denied until corrected.

4. Missing or outdated reserve study

Lenders expect a current reserve study. If the most recent study is more than 3-5 years old, or if the reserve balance does not align with the study's recommendations, the lender may require a new study before proceeding.

5. Inconsistent answers across sections

When different people provide data for different sections (treasurer handles finances, secretary handles governance, broker handles insurance), the answers may contradict each other. A budget number in Section 3 that does not match an assessment number in Section 4 raises a red flag.

How Auto-Fill Changes Everything

CommunityPay's Condo Questionnaire API eliminates every failure mode described above by auto-filling all 8 sections from the live general ledger.

What Gets Auto-Filled

How It Works

1. A lender, title company, or management company queries the CARI API with the association identifier
2. The system pulls data from the live ledger — at the moment of the request, not from a cached export
3. All 8 sections are populated with current data
4. A weighted data completeness score indicates how much of the questionnaire could be auto-filled (delinquency and reserves are weighted most heavily at 20% each)
5. Items that cannot be auto-filled (e.g., pending litigation, which requires board confirmation) are flagged as requiring manual input

What This Means for Closing Timelines

For Lenders and Title Companies

If you routinely wait days or weeks for completed 1076 questionnaires, the bottleneck is not the board's willingness — it is the association's data infrastructure.

CommunityPay's API provides programmatic access to the questionnaire data you need. No phone calls. No email chains. No manual forms.

The API is consent-gated through the CARI (Community Association Risk Index) consent framework — the HOA must authorize access — and each query is logged with a full audit trail.

Learn about the Condo Questionnaire API | Request API access

For Boards

Every delayed closing caused by an incomplete 1076 frustrates an owner, annoys a real estate agent, and creates a reputation problem for the association.

The fix is not faster manual data entry. The fix is a system of record that can answer the questionnaire's questions automatically — because the data already exists in the ledger.

CommunityPay is that system. Request a demo | Explore the platform

The same live-ledger infrastructure that auto-fills the 1076 also generates state-specific resale certificates: - Washington Resale Certificate Guide — 20-26 statutory disclosure items, auto-populated from the ledger - California HOA Disclosure Requirements 2026 — 15-item Civil Code 4525 framework - Oregon HOA Disclosure Requirements — Institutional-quality disclosures even without a mandated format

This guide covers the Fannie Mae 1076 / Freddie Mac 1077 Condominium Project Questionnaire and CommunityPay's auto-fill capabilities. For questions about specific Fannie Mae eligibility requirements, consult your lender or review Fannie Mae's Selling Guide. For a walkthrough of the API, contact us.