I could find no information on the Fannie Mae website, it does not appear to be very user friendly. My Fannie May printed information must be 10-12 years old and I consequently do not trust it. So here is my question: how does Fannie deal with property ratings of fair or poor? I was told(by a mortgage broker) they will not loan on a house with a fair or poor condition rating, even if the market value meets or exceeds the sale price. I see a lot of reports with the neighborhood marked suburban to get around the "rural" problem. Do all houses have to be rated "average" to get around the fair or poor problem? I just finished a report on a house that was in fair condition and I refused to change it to average, because it wasn't average. If house conditions are rated on a bell curve(a reasonable assumption), wouldn't half of them be fair or poor. So is Fannie going to lend on only half the houses in America? Not. I will quit rambling. Does anyone have any definitive comments?