Third-Party Inspector Requirements
If 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 permits a third-party inspector, the third-party inspector cannot reassign responsibilities to another person or entity without the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer).’s approval. Any third-party inspector must:
- have no financial interest 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). to be inspected;
- demonstrate experience in multifamily real estate property inspections;
- be experienced in the market in which 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). is located; and
- either:
- possess a professional certification from any one of the following:
- Real Estate Assessment Center for HUDHUDU.S. Department of Housing and Urban Development as a Certified Home Inspector;
- American Society of Home Inspectors ("ASHI");
- International Association of Certified Home Inspectors ("InterNACHI"); or
- State certified home inspector;
- be a registered architect;
- be a civil engineer; or
- have successfully completed an acceptable in-person training course in lieu of the above. (Note: On-line attendance at such course is not acceptable.) Acceptable training courses include the Fannie Mae approved inspection course provided by the MBAMBAMortgage Bankers Association.
- possess a professional certification from any one of the following:
Fannie Mae reserves the right, in its sole discretion, to notify the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). that a third-party inspection firm is no longer acceptable to Fannie Mae.