Navigating Radon Standards for Fannie Mae and Freddie Mac 

Oct 12, 2023

Ensuring Tenant Safety and Compliance

As of June 30, 2023, Fannie Mae and Freddie Mac require stricter radon testing for multifamily properties. These changes, enforced by the Federal Housing Finance Agency (FHFA), aim to protect tenants by identifying dangerous radon levels. This guide breaks down what these changes mean for lenders and how EBI can assist.

Understanding the Regulations

Updates and Key Changes

FHFA now mandates radon testing for all multifamily mortgage loan applications, upping the requirement from 10% to 25% of units. Compliance with local regulations is crucial, prioritizing the strictest standards.

Expert Oversight and Tenant Communication

Environmental professionals ensure accurate testing, while property managers inform tenants about the process to ensure transparency and cooperation.

Navigating the Impact

Considerations and Financial Implications

While the enhanced radon testing brings about increased costs and logistical challenges for property owners, it’s an investment in tenant safety and regulatory compliance that cannot be overlooked. Accessing tenant spaces for testing requires careful planning to minimize disruptions. However, by prioritizing rigorous testing, property owners not only safeguard tenant well-being but also demonstrate their commitment to providing a safe living environment.

Expert Recommendations

Partnering with consultants like EBI is essential for navigating these changes effectively. Staying proactive and informed ensures compliance with evolving regulations.

Webinar Highlights

Gain insights from industry expert Mike Walther in our webinar. Learn how to optimize radon testing strategies for multifamily properties:

Partnering for Safety and Compliance

Stricter radon standards emphasize the commitment to tenant safety. Partnering with EBI ensures comprehensive support throughout the testing process, ensuring compliance with Fannie Mae and Freddie Mac standards.

For more information, contact us today or explore our related resources:

      • EBI webinar: Understanding the latest Fannie Mae & Freddie Mac radon requirements
      • Q&A with GlobeSt.: New radon testing requirements with Adam Bower
      • EBI fact sheet: FHFA radon requirements by state
      • EBI fact sheet: FHFA radon standards means more testing for Fannie Mae & Freddie Mae

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