Announcement SEL-2018-07: Selling Guide updates
The Fannie Mae Selling Guide has been updated with changes that:
- Adopt the name “appraisal waiver” for what was previously called “property inspection waiver (PIW)” and “property fieldwork waiver.”
- Announce a new appraisal waiver option for eligible home purchases in certain rural high-needs areas.
- Clarify requirements for liability, fidelity, and crime insurance for condo projects.
- Increase the single-entity ownership policy for co-op projects from 10% to 20% to align with the policy for condo projects.