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Agreement requiring the BorrowerBorrowerPerson who is the obligor under 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: Property, Section 202 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, ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). 's 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.
For Bond Credit Enhancements, see Part XIV of the DUS GuideDUS GuideMultifamily Selling and Servicing Guide and Delegated Underwriting and Servicing Guide, including any exhibits, appendices, or other referenced forms, as updated, amended, restated, modified, or supplemented by any lender memo; provided, however, if a topic is covered in the Multifamily Selling and….
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.
Part of the disclosure package published by Fannie Mae when issuing an MBSMBSMortgage-Backed Security .
Fannie Mae Multifamily Additional Disclosure GuidanceAdditional Disclosure GuidanceFannie Mae Multifamily Additional Disclosure Guidance (Form 4098) listing common loan characteristics that may require Additional Disclosure. (Form 4098) listing common loan characteristics that may require Additional DisclosureAdditional DisclosurePart of the disclosure package published by Fannie Mae when issuing an MBS. .
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. per the NoteNoteCurrent instrument 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. .