Reviewing the FNMA 3.6 supplement, the Short Term Rental chapter how a lender must determine the borrower's qualifications, either from tax returns or an analsys of the subject's STR recent history and ST market rents. [IN THAT RESPECT I AM BOUND TO APOLOGIZE FOR EARLIER COMMENTS ABOUT SUBJECT RENTS. IN TERMS OF OBTAINING COMPETENCY DURING THE COURSE OF THE ASSIGNMENT, I RELIED ON CHATGPT TO DIG INTO AIRDNA, ETC., FOR COMP INFORMATION RATHER THAN BRING IT TO THE ATTENTION OF THE AF becaues for once I was guy shy...but still dont know if the market rental rates, vacancy rates, etc., etc., should reflect the Effective Date, or an annualized rate for properties in markets strongly affected by seasonal tourism.. So all things considered, this probably was the one job that I should not have acccepted...
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. If they want some income analysis I just refuse. Maybe for 3,000 I would do it.