8-unit condo complex non-warrantable??? Each owner owns 12.5%...

[Dustin Palls]

I own a condo in a nice, but small complex... 62.5% of the units are owner occupied... no litigation issues... no delinquencies... good reserves. But are we "non-warrantable" because technically EACH of the eight owners holds 12.5% of the complex?

I'm referring to a guideline that I have seen many times stating that "no one owner can own more than 10% of the units within a given complex" in order for said complex to remain "warrantable".

Can anyone please shed some light on this for me?

Thank you for your help!

Dustin