Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Functional Depreciation (obsolescence)
Fannie Mae
Updated 10-31-2026
Functional Depreciation (obsolescence)
A loss in value that is caused by defects in the design of a structure or by changes in market preferences that result in some aspect of a property being considered obsolete by current standards.
Fannie Mae Glossary of Terms
Fannie Mae · p. 19
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