Current guidelines make it very difficult for condo financing.  There are however options that may be overlooked.

1) New Construction - it may be that the developer continues to have a construction loan in place.  If so, current financing guidelines may make it impossible to sell units with anything other than a cash offer.  An alternative would be that consturction lender look longer term and offer buyers creative financing so that the developer is able to sell enough units to allow for FHA, FNMA or Freddie Mac finaning in the future.  I have seen some cases where 5/1 and 7/1 ARMs are being offered using this approach.  While the lender continues to hold approximately the same amount of debt, the diversification and "look to the future" is in everyones best interest.

2) Existing Condos - some portfolio lenders continue to offer financing for up to 55% loan to value (45% down payment) on 5/1 and 7/1 ARMS with very low interest rates.  If you have clients that are downsizing but can not do a cash offer, look for this type of financing option. 

Hope these ideas help.  Have a great day!