Financing and lending
A Fannie Mae property condition assessment is a physical evaluation of a multifamily property, prepared under the Fannie Mae Multifamily Guide, that identifies conditions affecting resident safety and marketability and sets repair and reserve needs.
Fannie Mae multifamily loans require a PCA, and the guide covers immediate repairs and replacement reserves. Servicers must follow the guide's timing and delivery rules. Using the wrong report type can delay closing.
Source: mfguide.fanniemae.com
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