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Dear Stakeholder:
A new multi-family radon policy was instituted on July 1, 2023 by lenders Fannie Mae and Freddie Mac, the Government Sponsored Enterprises (GSEs) overseen by the Federal Housing
Finance Agency (FHFA).This policy is less stringent than requirements adopted by Colorado’s Office of Radon Professionals, which follows protocols set forth by the American Association of Radon Scientists and Technologists (AARST).
The Office wants its licensees and lenders to be aware that Colorado requires compliance with AARST standards even when a lender’s requirements conflict. This means that full compliance with all applicable state and local laws governing radon testing and mitigation are required, even when the lender’s policy is more lenient.
Some of the major differences:
- The guidance doesn’t require licensed radon professionals conduct the testing
- The guidance only calls for testing of 25 percent of ground floor units, which doesn’t meet current ANSI/AARST protocols.
- The guidance doesn’t call for any testing on floors above the ground level, which also doesn’t meet current ANSI/AARST protocols.
Additional information regarding the radon statutes and regulations can be found here. Please address any questions to dora_directormodelprograms@state.co.us.
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