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You are here: Home » Resources » Articles » Fannie Mae Changes its Multifamily Guidelines! What Should You be Aware of?

October 29, 2013

Fannie Mae Changes its Multifamily Guidelines! What Should You be Aware of?

By Aaron Kovan, LEED AP

FANNIE MAE HAS ANNOUNCED CHANGES TO ITS MULTIFAMILY SELLING AND SERVICING GUIDE.

Recently, Multifamily Guide Update 13-09 was released announcing changes to the Fannie Mae multifamily Selling and Servicing Guide. In particular, the physical needs assessment requirements for all multifamily loans were changed, which will significantly change the way in which Physical Needs Assessment (PNA) reports are written. The changes to the guide, scheduled to go into effect on February 3rd, 2014, are extensive and have been vetted through a nine-project pilot program. Fannie Mae will be holding Lender training at their headquarters Tuesday, November 12, 2013. Training for Vendors will be held two days later.

Continue reading the GlobeSt blog here.

About the Authors

Aaron Kovan, LEED AP

Aaron Kovan, LEED AP

Executive Director - Building Sciences
Executive Director of the Building Science Division, Aaron Kovan, LEED AP is responsible for the overall quality and consistency of Property Condition Reports which includes efforts in quality assurance, quality control, staff training, process and policy development and implementation, as well as managing client relationships. Mr. Kovan has more than 15 years of experience in the engineering, environmental, construction, and development fields. He has successfully managed projects of varying property types, including; institutional, retail, assisted living, and multifamily residential throughout the country. Mr. Kovan is trained as an Architect and has worked as a General Contractor, Developer, and Subcontractor. As Technical Director, he draws on this diverse knowledge base and experience in the residential, industrial, institutional, and commercial environments in order to be a major contribution to Partner Engineering and Science’s national team.

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