Guide Update 26-24
:
Borrower Notification for Repairs and Maintenance
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Primary Audience: Asset Management |
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HIGHLIGHTS |
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Effective for all Mortgage Loans as of September 14, 2026, updated the Operating Procedures for Borrower notification during collateral analysis in Part V, Chapter 5: Surveillance. |
Primary Changes
Updated the Operating Procedures for Collateral Analysis to state that if the Property needs any repairs or maintenance, regardless of the Property inspection rating, you must notify the Borrower:
- within 45 days after the inspection date; or
- within 30 days after notice of a Fannie Mae reinspection.
Questions
Please contact Mark Driscoll at (617) 345-8052, or [email protected], with any questions.