Changes to Timing Requirements for Initial Property Inspections on Delinquent Loans

Effective March 1, 2019 Fannie Mae and Freddie Mac are changing the timing requirement for initial property inspections on delinquent loans.   

For both Fannie Mae and Freddie Mac, the ordering of initial property inspections on delinquent mortgage loans has changed from the 45th day of delinquency to the 60th day of delinquency. With this change, the initial property inspection must be completed by the 75th day of delinquency.

Below is more detailed information for your review.

Fannie Mae:

When a property inspection is required every calendar month, the inspections must occur between 20 and 35 days apart.

Fannie Mae Servicing Guide Announcement SVC-2018-08: 


Freddie Mac:

A newly completed property inspection report must be obtained every calendar month for all delinquent mortgages. No two inspection reports may be completed within a 20 day time period.

Freddie Mac Bulletin, 2018-22, Servicing Updates: