Guide Update 20-09
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Qualified Occupants, Phased Properties, and Site Inspections
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HIGHLIGHTS |
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Effective for all Mortgage Loans Committed on or after September 30, 2020, Fannie Mae updated information for:
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Primary Changes
- Clarified information for Qualified Occupants and Phased Properties.
- Updated site inspection requirements as follows:
- A physical site inspection must be conducted by
- you, or
- a qualified Non-Employee per the Program Rules.
- When there is an overall rating of "4" or "5" on the Comprehensive Assessment tab of the MBA Standard Inspection Form, the Property is ineligible for Delivery.
- For Small Mortgage Loans, you should address any:
- special hazards;
- zoning;
- building and fire code violations; and
- regulatory compliance as required in Instructions for Performing a Multifamily Property Condition Assessment (Form 4099).
- A physical site inspection must be conducted by
- Updated the section numbers in Appendix A - Streamlined Multifamily Property Condition Assessment Guidance (Form 4099.A).
Questions
Please contact the Fannie Mae Deal Team with any questions.