Fannie Mae Issues New Physical Needs Assessment Guidelines

Fannie Mae recently issued new guidelines for Physical Needs Assessment (PNA) reports. The guidelines, effective February 3, 2014, are intended to establish minimum standards, standardize the report format, and improve assessment quality. The new guidelines include several new forms that will be included in all PNA reports. For the convenience of our Fannie Mae lender clients, links to the new Fannie Mae forms are provided below.

Instructions for the PNA Property Evaluator
Appendix A: Streamlined PNA Report
Appendix B: Property Owner Pre-Site Visit Questionnaire
Appendix C: Structural Risk Evaluation Questionnaire
Appendix D: Property Condition Standards and Ratings, and Instructions for Useful Life Table
Appendix E: Property Useful Life Table and Cost Estimate Schedules
Appendix F: Estimated Useful Life Tables
Appendix G: Known Problematic Materials
Appendix H: HPB Module Report Tables

Consulting Solutions is currently offering lender training to review the new Fannie Mae guidelines and their impact on Physical Needs Assessment reports. For more information on lender training, property condition or environmental services provided by Consulting Solutions Inc., please visit this website or contact us at csi@consultingsolutionsinc.com.