Guide Update 25-01
:  Underwritten Net Cash Flow
Effective:
Underwritten Net Cash Flow (Redline).pdf

HIGHLIGHTS

Effective for Mortgage Loans Committed on or after February 12, 2025, updated Underwritten Net Cash Flow (Underwritten NCF) tables in:

 

  • Part II, Chapter 2: Valuation and Income; and
  • multiple chapters in Part III: Products and Features.

 

Primary Changes

To align with previously published inflation guidance, updated Underwritten NCF requirements for Property management fees, insurance, and real estate taxes in:

  • Part II, Chapter 2: Valuation and Income; 
  • Part III, Chapter 1: Student Housing Properties; 
  • Part III, Chapter 5: Seniors Housing Properties; 
  • Part III, Chapter 6: Manufactured Housing Communities; 
  • Part III, Chapter 7: Multifamily Affordable Housing Properties; 
  • Part III, Chapter 8: Cooperative Properties; and
  • Part III, Chapter 9: Small Mortgage Loans.

 

Questions

Please contact the Fannie Mae Deal Team with any questions.