Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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Must a desktop appraisal or exterior-only inspection appraisal report be submitted “subject to” an extraordinary assumption?

Note: This FAQ comes from the published COVID-19, FAQs on Appraisals

Must a desktop appraisal or exterior-only inspection appraisal report be submitted “subject to” an extraordinary assumption?

The revised scope of work and certification removes the requirement for the appraisal to be submitted “subject to” an extraordinary assumption. If adequate information about the subject property is not available from a credible source, then the desktop or exterior-only inspection appraisal is not acceptable. Appraisers must have data sources they consider reliable. The assumption that data sources are correct is not considered an extraordinary assumption. 

For more information, refer to the published Lender Letter LL-2020-04, Impact of COVID-19 on Appraisals.

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