Selling Guide updates

We’ve updated the Fannie Mae Selling Guide with changes that can affect appraisers. We’ll provide more commentary on these topics in an upcoming Appraiser Update newsletter.

The Selling Guide has been updated to Include “Crime rate or related data” and “crime (and its variants)” as examples in the Unacceptable Appraisal Practices section. Click here to read the Appraisal Foundation’s recently released question and answer on using crime-related information in appraisal reports.

We’ve also added condominiums as eligible properties for value acceptance + property data. In rare cases, a value acceptance + property data offer is lost due to a change in qualifying loan characteristics after the property data collection has been delivered. In these cases, Fannie Mae will accept a hybrid appraisal informed by the property data collection (PDC). To accommodate condominium properties, we have added the Individual Condominium Unit Appraisal Report (Hybrid) to the Selling Guide, which must be used for appraisals of one-unit (attached and detached) properties in condo projects that are based on interior and exterior PDC.

Read the full Selling Guide announcement for more information on these updates, including links to relevant sections.