…are less than a week from implementation, and additional revisions were just released on January 27th. As the industry readies itself, lenders still have many questions. Partner’s Aaron Kovan discusses some FAQs regarding the changes.
Fannie Mae’s Multifamily Guide Update 13-09, released in October 2013, announced big changes to the Fannie Mae multifamily Selling and Servicing Guide that will take effect this February 3rd. These changes include updated underwriting standards as well changes to property due diligence requirements. In particular, the Physical Needs Assessment and Seismic Risk Assessment requirements for all multifamily loans were changed and will significantly transform the way in which these reports are written.
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