FNMA Loans and Code Enforcement Liens

[Justin R.]

Alright, I need some expert input from those of you who work with Fannie and Freddie underwriting guidelines for a living.

What are the rules for originating a loan on a property that has a code compliance lien on it?  Assume that the lien has no monetary penalties applied (but, of course, there's a threat of fines).

Are there hand and fast rules?  Left up for interpretation?  How do you approach these things?

I have a feeling @Jerry Padilla may have experience here.