Fannie Mae Refinance is mortgages on multiple apartment buildings that Fannie Mae insures. Normally Fannie Mae has the lowest market rates around. However being a large entity, Fannie Mae requires the borrower to jump through many hoops before a loan is funded. It requires a physical inspection of the premises, and environmental audit. It requires complete background check on the borrowing entity and the key principals of it. Current surveys and complete title insurance coverage.