On March 18, 2026, Fannie Mae issued Lender Letter LL-2026-03, announcing sweeping updates to its project standards and property insurance requirements for condominium and homeowners’ associations as well as co-ops. These changes, coordinated with Freddie Mac and the Federal Housing Finance Agency, carry important implications for community associations across Virginia, Maryland, Washington, D.C., and nationwide. On April 1, 2026, Fannie Mae published its updated Selling Guide. This article summarizes key changes and provides recommendations for boards of directors to ensure compliance.