M

  • Medicaid Funds

    Funds paid to a provider by governmental authorities or managed care organizations, under Medicaid provider agreements.

  • Metropolitan Statistical Area

    Geographic delineation for a metropolitan area determined by the U.S. Census Bureau.

  • Mezzanine Financing

    Subordinate debt financing provided to a direct or indirect owner of a BorrowerBorrowerPerson who is the obligor per the Note. that is secured by a pledge of the direct or indirect equity interest in the BorrowerBorrowerPerson who is the obligor per the Note. held by the owner, and not by a LienLienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. on 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). .

  • Military Housing Property

    Multifamily rental PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). in which 40% or more of the units are occupied by individuals serving in, or employed by, the United States military.

  • Minimum 1% Prepayment Premium

    For a prepayment, an amount equal to 1% of the UPBUPBUnpaid Principal Balance .

  • Minimum Good Faith Deposit

    Amount you are required to collect when originating 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. per Part IV, Chapter 2: Rate Lock and Committing, Section 203.02: Minimum Good Faith Deposit.

  • Minimum Required Trade Information

    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. , SecuritySecurityMBS, PFP MBS, or REMIC. , and PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). information that must be disclosed to any potential InvestorInvestorMBS Investor for an MBS Mortgage Loan, or Fannie Mae for a Cash Mortgage Loan. when rate locking 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. , using either:

    • Form 4097.Fixed – Multifamily Required Trade Information for Cash or MBS, for a fixed Rate 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
    • Form 4097.ARM – Multifamily Required Trade Information for Cash or MBS, for an ARM LoanARM LoanMortgage Loan with an interest rate that periodically adjusts based on an Index per the Note or Loan Documents. , SARM Loan, or Hybrid ARM LoanHybrid ARM LoanMortgage Loan with a total term of 30 years, comprised of an initial term when interest accrues at a fixed rate, and which automatically converts to a term where interest accrues at an adjustable rate. .

  • Moderate Rehabilitation Property

    PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). that will undergo at least $8,000 per unit of Rehabilitation WorkRehabilitation WorkAggregate repairs, replacements, or improvements (including all Completion/Repairs) required to be performed and completed within a specified time period after the Mortgage Loan Origination Date for a Moderate Rehabilitation Property. .

  • Modular Housing

    PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). on which the multifamily ImprovementsImprovementsBuildings, structures, improvements, and alterations, including the multifamily housing dwellings, now or hereafter constructed or placed on the Property, including all fixtures (as defined in the UCC). are constructed of sections built off-site, such as modular, prefabricated, panelized, or sectional housing, and then assembled and installed on-site on a permanent foundation (and not a chassis).

  • Mortgage Loan

    Mortgage debt obligation evidenced, or when made will be evidenced, by

    • the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , or 
    • a mortgage debt obligation with a Fannie Mae credit enhancement.