March 1, 2023

Announcement SEL-2023-02: Selling Guide Updates

March 1, 2023 - The March Selling Guide update introduces, as part of valuation modernization, our transition to a range of options to establish a property’s market value, with the option matching the risk of the collateral and loan transaction; provides additional guidance on the use of sweat equity and nonprofit program providers; revises timelines and expectations for lenders’ prefunding and post-closing quality control reviews; requires the use of Condo Project Manager™ for projects when a lender Full Review is required; and makes miscellaneous updates.