Fannie Mae has just updated its guidance related to seismic risk analysis. The new guide now references the ASTM guides E2026-16a Standard Guide for Seismic Risk Assessment of Buildings and ASTM E2557-16a Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments. Prior to this update, Fannie Mae’s requirements did not explicitly mention ASTM standards for Seismic Risk Assessment.
The formal adoption of the ASTM standards into their guidance is an important step to achieving consistency across the industry. Per the new guide, Fannie Mae’s Seismic Risk Assessment will become more in line with the determinate factors of Freddie Mac making these reports more consistent.
What Are the Specific Changes?
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