On December 15, 2021, Fannie Mae issued Announcement SEL-2021-11 which heralded a number of changes that were made to its Selling Guide. Several of the changes are aimed at underwriters and do not affect appraisers; however, there is one significant change for appraisers that will change the way they inspect properties in the not-so-distant future.
As of April 1, 2022, Fannie Mae will require appraisers to measure subject property improvements using ANSI Standard Z765-2021.
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