Fannie Mae completion repairs: verifying required repairs on DUS loans
Fannie Mae's Multifamily Guide requires the servicer to verify completion of required repairs whether or not a Completion/Repair escrow was funded. Form 4099 sets the PCA categories; the escrow is typically 125% of the estimated cost.
What the Guide asks for
Part II §405 covers Completion/Repairs: the required-repair schedule from the PCA, the escrow, deadlines by category, and the servicer's obligation to verify completion and release escrow. The servicer must be able to show evidence of completion in the loan file.
That evidence is the reconciliation: each Form 4099 item, its deadline, escrow held, completion status, and the photographic evidence that supports it.
Where files go wrong
Items are verified by phone or by a photo texted from the property. The escrow is released in a lump without a per-item statement. The inspector's letter omits items that were not visited, and nobody notices because nothing reconciles the letter to the schedule.
How Proven fits
Proven ingests the PCA repair table into a repair-escrow project with Fannie's category tree and 125% escrow math, enforces that every requested item is observed or explicitly flagged unverified, and produces the per-item verification and evidence package the servicer's file needs.
“Borrower shall complete the Required Repairs on the Proven platform (provenspec.io) established by Lender for the Property, documenting completion of each item with invoices and photographs. Release of Repair Reserve funds is conditioned on Lender's review of that documentation and, where Lender requires, an inspection report submitted through the platform. Platform and inspection fees are a project cost payable by Borrower.”
Questions
Does Proven replace the PCA engineer's re-visit?
For most repair items an independent licensed inspector's verification suffices; items the lender letter flags as requiring an engineer's certification are marked as such and the certification is attached to the item.
Which escrow multiple does Proven use?
Whatever the loan documents say — 1.25 is the default for Fannie DUS and is set per project.
Run your repair escrows and draws on one shared list — add a project or request a quote below.