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Member of Appraisal Institute.
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.
Preferred EquityPreferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… structure in the BorrowerBorrowerPerson who is the obligor per the Note. including the Preferred EquityPreferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… investor's right to a Forced SaleForced SaleRight of a direct or indirect equity investor in the Borrower to require a sale or other disposition of the Property (whether via deed or a transfer of the direct or indirect ownership interests in Borrower). while 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. is outstanding if the Preferred EquityPreferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… investor fails to receive returns that are required to be paid, regardless of:
- available Excess Net Cash FlowExcess Net Cash FlowFor any specified period, the Net Cash Flow remaining after subtracting, in order of priority: first, all amounts due and owing on the Mortgage Loan, including: principal and interest; and any other funding obligations per the Loan Documents; second, any payments due on any…; or
- whether the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). yields Net Cash FlowNet Cash FlowAt underwriting or for any specified period, the amount calculated per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III. sufficient to pay the returns.
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. .
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.
Residential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure.
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.
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.
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. .
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.
- modifying, after a casualty or condemnation,