August 21, 2013
Fannie Mae and its DUS Lenders require a Physical Needs Assessment which is their version of the Property Condition Report. The Physical Needs Assessment is defined in the Fannie Mae Delegated Underwriting and Servicing guide, Part 111, Chapter 3, 308. The Physical Needs Assessment is required for Fannie Mae financing on many types of residential properties, including apartment communities, assisted living facilities, skilled nursing facilities, student housing, and manufactured housing communities. The Physical Needs Assessment is similar to an ASTM E2018 Property Condition Assessment in many respects, though there are distinct differences.
Read more about Fannie Mae Physical Needs Assessments.
November 12, 2012
Aaron & Wright Technical Services, Inc. provided various environmental and engineering assessments, such as Phase I Environmental Services and Property Condition Reports (PCRs) nationally until 2004. Aaron and Wright Technical Services was sold to LandAmerica Assessment Corporation (LAC) August 2004. Subsequently, all of the assets of the former Aaron & Wright Technical Services were purchased out of bankruptcy on March 27, 2009 by Partner Engineering and Science, Inc. a national due diligence company.
Partner regularly updates old Aaron and Wright Technical Services Reports for clients. If you are in need of an update call 800-419-4923 or email firstname.lastname@example.org.
Please continue the relationship! Partner Engineering and Science’s professional staff is qualified and experienced and are able to perform a vast array of environmental and engineering services, ranging from Phase I ESAs to Property Condition Assessments to Subsurface Testing to Litigation Support.