FNMA Loans and Code Enforcement Liens
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.