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Fannie Mae Appraiser Updates - June 2025

Screenshot 2025-06-12 at 3.26.32 PM

Here are the main takeaways

  1. They removed the legacy terms “GLA” and “Basement” from the Guides and have updated to reflect “Above-Grade” and “Below-Grade”. This is consistent with the ANSI definitions and will be reflected appropriately in UAD 3.6.
  2. The “GXX001-” exception code has also been removed, requiring appraisers to fully comply with the ANSI Standard. The effective date is Sept 8, 2025.
  3. They have removed the term “safety” from the list of physical deficiencies. It is now just “soundness and structural integrity”. The use of the term is repetitive. I will update the engagement letters where this commentary is included, however, that could be a bit of a challenge, because it is often included as an overlay for the clients who choose to emphasize the requirement in general.

View the full document here: Fannie Mae Appraiser Update June 2025.