M

• MAI

  Member of Appraisal Institute.

• MAMP

  Multifamily Asset Management Portal used to submit

  • PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). inspections,
  • operating statements,
  • requested modifications,
  • asset management reports, and
  • data corrections for loan or property attributes.

• Manufactured Home

  Factory-built home complying with the Manufactured Home HUD CodeManufactured Home HUD CodeNational Manufactured Home Construction and Safety Standards Act of 1974 (HUD Code) (42 USC 5401 et seq) and the Manufactured Home Construction and Safety Standards (24 CFR Part 3280), as amended. .

• Manufactured Home HUD Code

  National Manufactured Home Construction and Safety Standards Act of 1974 (HUD Code) (42 USC 5401 et seq) and the Manufactured Home Construction and Safety Standards (24 CFR Part 3280), as amended.

• Manufactured Housing Community

  Residential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure.

• Manufactured Housing Community Score

  Score of 3 through 5 based on characteristics of the MH CommunityMH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. per Part III, Chapter 6: Manufactured Housing Communities, Section 603.02: MH Community Score.

• Manufactured Housing Site

  Developed lot within an MH CommunityMH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. on which a Manufactured HomeManufactured HomeFactory-built home complying with the Manufactured Home HUD Code. can be located.

• Master Credit Facility Agreement

  Agreement evidencing the terms and conditions of a Credit FacilityCredit FacilityStructured Transaction governed by a Master Credit Facility Agreement requiring Mortgage Loans and Properties to be cross-defaulted, and cross-collateralized. .

• Material Amendment

  Change to the Condominium DocumentsCondominium DocumentsGoverning documents: for the Condominium and owners’ association’s creation, operation, and management; and including Condominium instruments for Condominium governance, such as declarations, plats, bylaws, rules and regulations,  articles of… pertaining to:

  • modifying, after a casualty or condemnation,
    • insurance requirements,
    • use of insurance proceeds, or
    • rebuild requirements;
  • altering or restricting the use of the
    • CondominiumCondominiumStatutorily established Property ownership regime where Condominium Documents designate: individual units for separate ownership; and common areas for shared use and joint ownership by the unit owners. units,
    • common elements, or
    • other easements;
  • decreasing mortgagee
    • rights, or
    • notices;
  • altering or diluting
    • voting rights, or
    • the number of board seats;
  • diluting Borrower'sBorrower'sPerson who is the obligor per the Note. ownership interest in, or use of, common elements;
  • changing the structure or methodology for determining assessments and special assessments; or
  • causing or allowing termination of the CondominiumCondominiumStatutorily established Property ownership regime where Condominium Documents designate: individual units for separate ownership; and common areas for shared use and joint ownership by the unit owners. structure without BorrowerBorrowerPerson who is the obligor per the Note. or mortgagee consent.

• Material Commercial Lease

  LeaseLeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. , sublease, license, concession, grant, or other possessory interest

  • for commercial purposes comprising 5% or more of the Property'sProperty'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). annual 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 203: Income Analysis and the applicable products and features in Part III. , or
  • relating to:
    • solar power, thermal power generation, or co-power generation, or the installation of solar panels or any other electrical power generation equipment, and any related power purchase agreement; or
    • any PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). dwelling units leased to 
      • a BorrowerBorrowerPerson who is the obligor per the Note. AffiliateAffiliateWhen referring to an affiliate of a Lender, any other Person or entity that Controls, is Controlled by, or is under common Control with, the Lender. When referring to an affiliate of a Borrower or Key Principal: any Person that owns any direct ownership interest in Borrower or Key…,
      • any Key PrincipalKey PrincipalPerson 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/or may be required to provide a Guaranty. , or
      • any 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. .