I need a portfolio lender who will do non-warrantable condos.  It's brand new and only 2-18 units are in escrow.    We have met 9-10 Fannie conditions however because of the lack of financing for this type of loan they can't sell, or put enough into escrow to meet those requirements.   The developer has a good track record, and it is in a good market near the beach in PB.   I need 20-25% down.  

If you need more info let me know,

Thanks in advance

If you can't find a home for this loan. Email me the details. I have a non-warrantable condo loan program. tfaulhaber@mlcfunding.com

Won't happen. Period. Private/credit union or Granny with cash.

Dear Sam,

This is a tough scenario to place.  I have had great luck with MetLife Wholesale.  They have allowed our company to lend on Non-Warrantable Condos here in California.  Also, I am not sure of the company you work with in regards to being a mortgage broker, mortgage banker or both, but you can check with your correspondent department to see if the project you are working on is already an approved project with that lender.  If it is then great, but if it isn’t perhaps you can submit to get the project approved as I have found that it does not have to meet all Fannie requirements.  Currently California Mortgage Advisors, Inc. is lending in over 20 different condo projects in the greater bay area and now we are expanding to projects in Oregon and Washington.  I hope MetLife works out for you and good luck.  Email me if you have any questions and I will try to help.