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How to Handle Short-Term Rentals: The Fannie Mae Policy Explained
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In today's episode of the Appraisal Buzzcast, we welcome back Lyle Radke, Principal of Collateral Policy at Fannie Mae. Recently, Fannie Mae released an appraiser update with significant policy changes, and Lyle is here to break down the key points for us. We dive into the details of the update, including the potential impact on ROV processes. Plus, Lyle provides insights into the documentation required under the new guidelines.
We also take a look at the new guidance for short-term rentals (STRs), including how to categorize STR income and the use of 1007 forms for these properties.
If you'd like to read the update directly, you can find it here: https://singlefamily.fanniemae.com/in-case-you-missed-it-policy-updates
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