New Penn Financial launched a non-agency product for condominiums last week. The SmartCondo offering allows for two non-warrantable features, which are characteristics that exclude the loans from being delivered to Fannie Mae or Freddie Mac. For example, New Penn will allow a higher portion of commercial space, reduced pre-sale requirements and increased flexibility for single-entity ownership, among other features. The mortgages are available for ... [Includes one brief]