FNMA has announced that, “to align with the existing policy covered in another topic in the Guide, Texas 50(a)(6) mortgages have been added to the list of transactions that are not eligible for a property inspection waiver (PIW).” (FNMA SEL-2017-03) Thus, PIWs may no longer be executed on these types of loans, if they are intended to be sold to FNMA.
Because Docutech does not provide a standard PIW form, no changes will be made. However, clients who provide custom PIW forms may wish to review this change.