Site Inspections | Fannie Mae Multifamily Guide

Guide Update 25-17

: Site Inspections

Effective: 08/13/25

Associated Documents:

Summary of Changes:

HIGHLIGHTS
Effective for Mortgage Loans Committed as of August 13, 2025, updated Part II, Chapter 4: Lease Audits, Inspections, and Reserves adding requirements and guidance for completing MBA Standard Inspection Forms.

Primary Changes

Updated Part II, Chapter 4: Lease Audits, Inspections, and Reserves:

Section 401.03: Validating Rent Collections, Bad Debt, and Secondary Income, removing the requirement to include your lease audit form with underwriting documents in DocWay;
Section 402.01: Physical Inspections, stating the MBA Standard Inspection Form:
- must be completed accurately; and
- permitting the General Information section to be completed by PCA Consultants;
Section 403: Brokered Transactions, adding an exception for ordering a Brokered Transaction Inspection per Authorized Brokered Transaction Inspections (Form 4229); and
adding a Glossary Term for Property Condition Rating.

Questions

Please contact Michael Harvey at (202) 752-1605, or [email protected], with any questions.