Currently, Fannie Mae accepts an inter vivos revocable trust as an eligible borrower for a conventional first mortgage as long as the secured property is a one-family principal residence, second home, or an investment property, and the trust complies with other eligibility requirements stated in Part IV, Section 501 and Part VII, Section 101.06 of its Selling Guide.  Pursuant to Announcement 07-25, dated December 21, 2007, the eligibility of secured property in which a revocable trust is the borrower has been expanded to include one - to four - family principal residences, investment properties, and one-family second homes.  Additionally, Fannie Mae clarifies in its Announcement that eligible properties include units in condominium projects, planned unit developments (PUDs), manufactured homes and cooperatives, provided that the lender has obtained approval to deliver cooperatives.