Fannie Mae and Freddie Mac Due Diligence
Environmental Due Diligence
Phase I Environmental Site Assessments (Phase I ESAs) are the central product in Partner's Environmental Due Diligence practice. Phase I Environmental Site Assessments are our core environmental expertise.
Partner performs Phase I ESAs to meet the requirements established by ASTM Standard E1527-13, AAI, Fannie Mae DUS Guidelines, Freddie Mac Multifamily Seller/ Servicer Guide, or client specific standards which may go beyond those established standards (including but not limited to asbestos surveys, radon testing, lead-based paint testing, and lead in drinking water testing).
Partner specializes in Fannie Mae and Freddie Mac due diligence including Phase I Environmental Site Assessments and engineering assessments.
Our Fannie Mae environmental assessments are designed to comply with the requirements of the Fannie Mae Mulitfamily Selling and Servicing Guide as well as the Delegated Underwriting and Servicing Guide.
Freddie Mac environmental assessments are conducted in accordance with Freddie Mac guidelines as specified in the Freddie Mac Multifamily Seller/Servicer Guide requirements.
Engineering Due Diligence
Partner also conducts Fannie Mae Physical Needs Assessment reports (PNAs) and Freddie Mac Property Condition reports (PCRs). The Fannie Mae PNAs are designed to comply with the requirements of the Fannie Mae Mulitfamily Selling and Servicing Guide. The Freddie Mac PCRs are designed to comply with the Freddie Mac Mulitfamily Seller/ Servicer Guide requirements.
In the past year, Partner has completed hundreds of Fannie Mae Sesimic Probable Maximum Loss reports to assist underwriters in understanding seismic risk. Partner provides regular webinars on the subject of Seismic Probable Maximum Loss Reports.
Fannie Mae Peak Ground Acceleration (PGA)
Fannie Mae requires a determination of site seismic hazard by searching for the property’s Peak Ground Acceleration (PGA) via a USGS website. For instructions on conducting the PGA search, visit Partner's Peak Ground Acceleration instructions page.
Qualifications for Freddie Mac and Fannie Mae Assessments
In recent years, both Freddie Mac and Fannie Mae have announced more stringent qualifications requirements for who can perform and review Property Condition Reports and/or Physical Needs Assessments. Partner has one of the largest teams of professionals in the country that are qualified to conduct and review Freddie Mac and Fannie Mae reports per the latest guideline requirements. Partner has over two dozen Professional Engineers and Registered Architects on staff that are involved in the writing and reviewing of agency reports.
Partner provides a nationwide staff of assessors, project managers, and report review staff that has received Branch III technical training as set forth by the Structural Pest Control Board of California. Partner staff is trained in Pesticide / Termiticide Safety, Pest Identification / Biology, and Construction, Repairs, and Wood Preservation Techniques.
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For More Information
- Freddie Mac's PCA Changes in a Nutshell
- Globe Street, McCreery
- Fannie Lowers Rates for Green-Certified Multifamily Properties
- Globe Street, McCreery
- Fannie Mae Freddie Mac Blog Archive
- By Today's Standards: Fannie Mae has extensively revised its Property Condition Assessment guidelines
- Multi-Housing News, McCreery
- Overhualing Fannie Mae's Physical Needs Assessment: What Lenders And Investors Need To Know
- Real Estate Finance & Investment, Kovan
- Charting a Course Through a New Multifamily
- Multi-Housing News, Gell
- Best Practices for Third-Party Consultant Reports
- Recently Released by Freddie Mac
- Fannie/Freddie Phase I ESA
- Scotsman Guide, Gell