“Back in the day” it was easy to get a loan if you had a credit score of 800, if you had a banking relationship, and had 20% down. In today’s world that might not be enough. As this complaint shows, lenders are scrutinizing condominium association finances and financial protections. FHA, Fannie Mae and Freddie Mac all require that condominium associations carry some level of fidelity insurance, even if the association has professional management which handles the day to day aspects of collecting assessments. This article shows a lack of understanding of both why fidelity insurance is important and why lenders make certain decisions. Even a conventional loan with 20% down, is likely to be sold by Wells Fargo on the secondary lending market and thus the loan must meet Fannie Mae and Freddie Mac standards. While 1 day notice may not have been the best practices, the need for fidelity insurance is a good practice.