Minimum Inspector Experience
Inspections must be performed by either a qualified third party or ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). staff as specified in the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). Inspection Protocol table in Part V, Chapter 5: Surveillance, Section 502.03: Property Inspection Protocols. The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). is responsible for ensuring that the inspector has at least the minimum level of experience required to conduct a Fannie Mae inspection. At a minimum, the inspector must have completed an acceptable “Property Inspection Risk Management” course or other acceptable training course, including the courses provided by the MBAMBAMortgage Bankers Association , and must have previous inspection experience as follows:
Mortgage Loan Rating | Minimum Previous Inspection Experience |
Pass and Special Mention Mortgage Loans (except Seniors Housing Mortgage Loans) | 10 multifamily property inspections |
Substandard and Doubtful Mortgage Loans (except Seniors Housing Mortgage Loans) | 25 multifamily property inspections |
Seniors Housing Mortgage Loans | 10 Seniors HousingSeniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. property inspections |