Property Evaluation | Fannie Mae Multifamily Guide

Guide Update 26-04

: Property Evaluation

Effective: 01/28/26

Associated Documents:

Summary of Changes:

Primary Audience: Asset Management

HIGHLIGHTS
Effective for Mortgage Loans as of January 28, 2026, updated Property evaluation information in: Part II, Chapter 4: Lease Audits, Inspections, and Reserves; Part V, Chapter 5: Surveillance; Instructions for Performing a Multifamily Property Condition Assessment (Form 4099); and Appendix G to Instructions for Performing a Multifamily Property Condition Assessment: Known Problematic Building Materials (Form 4099.G).

HIGHLIGHTS

Effective for Mortgage Loans as of January 28, 2026, updated Property evaluation information in:

Part II, Chapter 4: Lease Audits, Inspections, and Reserves;
Part V, Chapter 5: Surveillance;
Instructions for Performing a Multifamily Property Condition Assessment (Form 4099); and
Appendix G to Instructions for Performing a Multifamily Property Condition Assessment: Known Problematic Building Materials (Form 4099.G).

Primary Changes

Updated:

ADA compliance requirements in:
- Part II, Chapter 4: Lease Audits, Inspections, and Reserves, Section 405.01: Property Evaluation; and
- Instructions for Performing a Multifamily Property Condition Assessment (Form 4099);
photo requirements for the MBA Standard Inspection Form in Part V, Chapter 5: Surveillance, Section 502.01: Forms; and
Appendix G to Instructions for Performing a Multifamily Property Condition Assessment: Known Problematic Building Materials (Form 4099.G), adding:
- requirements for aluminum branch wiring Immediate Repairs; and
- recommended remediation for recalled electrical panels.

Questions

Please contact Brian Lenk at (636) 795-3638, or [email protected], with any questions.