Condo Appraisal Protocol Changed
Fannie Mae’s sweeping new national condominium regulations… Appraisers, Fannie Mae has changed inspection and reporting requirements for Condominiums, effective January 1, 2022. The article titled “How can appraisers evaluate aging condos without docs?” from Loop North News has info: From the article: 24-Jan-22 – Fannie Mae’s sweeping new national condominium and co-op apartment lending regulations were created to protect residents, but the tough rules do not cover all the problems, appraisal experts say. High-rises with “aging infrastructure and significant deferred maintenance is a growing concern across the nation,” noted the Fannie Mae memorandum, issued as a result of the tragic...
