Standardized Fnnie Mae "Single-Family Comparable Rent Schedule"It is added to certain appraisals to determine the market rent of the property by comparing nearby rented SFRs1007 Rent = what you'd reasonably rent the SFR at if put on the market todayTypically, the appraiser will take three nearby rented properties, look at their in-place rent, and then adjust as necessary (i.e. if the property has 3 bathrooms vs. 2 bathrooms, adjust accordingly). 

If this is a residential (Fannie Mae conforming) loan, then the $15K would need to be disclosed to the lender and show up on the HUD-1.

Lesley, There should be no problems with buying an REO that belongs to fredie mac or fannie mae.The problem you would encounter is if you tried to get a loan through freddie mac or fannie mae to BUY an REO.

Mortgages on non warrantable condo's are not eligible to be sold to Fannie Mae which seriously restricts financing.

Hi @Molly MathiasNote: Not a legal advice.

I want to say that this is an additional overlay but the loan officer keeps saying that it is required by fannie mae.

Max out the amount of properties you can buy using FHA and Fannie Mae before you come to lenders like me.  3.5% down for FHA is how many many investors start. 

Fannie Mae just announced yesterday, for conventional financing, you go off of the payment on the credit report.

The area isn't particularly high-growth, but has quite a few Fannie Mae/bank-owned foreclosed properties that are trading at interesting price ranges.

Not the same hoops as Freddie Mac and Fannie Mae, or conventional lending.