The MBA has established property inspection "best practices" which requires adequate training and experience for all individuals (primarily underwriters and servicers) inspecting multifamily real estate financed by Fannie Mae and Freddie Mac. Proper inspection training is a key component of the best practices and is a requirement of both government-sponsored enterprises (GSEs). The MBA, working together with Fannie Mae and Freddie Mac, have created the MFPI training course, which is accepted training by both agencies.
MBA Education's Virtual School of Multifamily Property Inspection training is a comprehensive two week online classroom course which reviews the important points in conducting a multifamily property inspection. The training provides important steps to ensuring an effective property inspection, tips for conducting an informative property management interview, and a discussion of the importance of evaluating observable market conditions. The course also reviews the major building components and building materials used in construction, discusses problem areas, and provides examples of how deficiencies can be repaired. Interwoven throughout the training are discussions of Fannie Mae and Freddie Mac requirements as well as basic laws and regulations affecting a property.
Due to COVID-19, the course is being presented virtually, as a blend of self-study and instructor-guided online learning. The course includes a series of live webinars, presented through Adobe Connect, allowing the participants to interact with the instructors and each other. Course materials and the final exam are available through TopClass, MBA Education's learning management system.
Learners are strongly encouraged to participate actively during the webinar sessions.