A
LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. due diligence performed for the BorrowerBorrowerPerson who is the obligor per the Note. , Key PrincipalKey PrincipalAny Person who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and who may be required to provide a Guaranty. , and PrincipalPrincipalPerson who owns or controls specified interests in the Borrower per Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 303: Key Principals, Principals, and Guarantors. using the ACheckACheckLender due diligence performed for the Borrower, Key Principal, and Principal using the ACheck application. application.
Agreement requiring the BorrowerBorrowerPerson who is the obligor per the Note. to provide a letter of credit, cash, or guaranty as additional collateral to support the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. amount and specifying the terms for releasing the collateral.
Letter of CreditLetter of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. that is released as collateral when a certain event occurs or a requirement is met (e.g., construction completion, or minimum occupancy or EGIEGIOn an annual basis or any specified period, the total of Net Rental Income plus other income per Part II, Chapter 2: Valuation and Income, Section 202: Income Analysis and the applicable products and features in Part III. level reached).
ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). ’s report to Fannie Mae including detailed analysis of Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. and PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). issues, Servicer'sServicer'sPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). strategy for resolving issues, and related actions and outcomes.
For Seniors HousingSeniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. PropertiesPropertiesMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). , support for medication management and assistance with bathing, dressing, toileting, ambulating, eating and other similar activities.
Financial analysis or valuation of a Cooperative PropertyCooperative PropertyMultifamily residential property owned by a Cooperative Organization. conducted based on its actual operating performance.
Net dollar amount of the loss on a Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. as calculated on the Multifamily Loss Notification Form and approved by Fannie Mae.
Information you provide that is published as an addendum to the disclosure documents when an MBSMBSMortgage-Backed Security is issued and describes special SecuritySecurityMBS, PFP MBS, or REMIC. , Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. , or PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). characteristics or terms that differ from those described in the standard Multifamily MBS Prospectus.
Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. with an interest rate that periodically adjusts based on an IndexIndexBasis for determining the Gross Note Rate of an ARM Loan, including any required alternative index that may be determined necessary by Fannie Mae because the Index is no longer widely accepted or has been replaced as the index for similar financial instruments. per the NoteNoteInstrument evidencing a Mortgage Loan obligation, including Form 6010 (series), any other note approved by Fannie Mae, and all applicable addenda, schedules, and exhibits. or Loan DocumentsLoan DocumentsAll documents evidencing, securing, or guaranteeing the debt obligation executed for a Mortgage Loan and approved by Fannie Mae. .
Third-party compliance monitoring company.