Change

Part V, Chapter 5: Surveillance, Section 502.05B: Third-Party Inspector Requirements is temporarily modified as follows:

If the Property 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 Servicer’s approval.  Any third-party inspector must:

• have no financial interest in the Property to be inspected;
• demonstrate experience in multifamily real estate property inspections;
• be experienced in the market in which the Property is located; and
• meet at least 1 of the following:
  • possess a professional certification from any one of the following:
    • Real Estate Assessment Center for HUD 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 training course in lieu of the above.   Acceptable training courses include the Fannie Mae approved inspection course provided by the MBA.

Fannie Mae reserves the right, in its sole discretion, to notify the Servicer that a third-party inspection firm is no longer acceptable to Fannie Mae.
 

Questions

Please contact Mark Driscoll at (617) 345-8052, or [email protected], with any questions.