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American Land Title Association
Seniors Housing PropertySeniors Housing PropertyMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. with units and beds for residents with significant cognitive impairment resulting from Alzheimer’s disease or other dementia, which are typically licensed and regulated by a state or local government authority.
Written statement independently and impartially prepared by a qualified AppraiserAppraiserPerson engaged to estimate a Property’s market value per USPAP. stating an opinion 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). market value
- as of a specific date, and
- supported by the presentation and analysis of relevant market information.
Effective date of value in the AppraisalAppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. .
Appraiser’sAppraiser’sPerson engaged to estimate a Property’s market value per USPAP. estimated PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). Net Cash FlowNet Cash FlowOn an annual basis or any specified period, the total Net Operating Income, minus the full amount underwritten for Replacement Reserve expense, regardless of whether deposits will be made (per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and… per the AppraisalAppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. .
Per the Loss Sharing Addendum.
Appraiser’sAppraiser’sPerson engaged to estimate a Property’s market value per USPAP. opinion 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). market value documented in the AppraisalAppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. , on an “as is” basis, unless use of an “as completed” basis is specifically permitted per the GuideGuideMultifamily Selling and Servicing Guide controlling all Lender and Servicer requirements unless a Lender Contract specifies otherwise. .
PersonPersonLegal person, including an individual, estate, trust, corporation, partnership, limited liability company, financial institution, joint venture, association, or other organization or entity (whether governmental or private). engaged to estimate a 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). market value per USPAPUSPAPUniform Standards of Professional Appraisal Practice .
Various As Soon As PooledAs Soon As PooledVarious As Soon As Pooled purchase options expediting the sale of Mortgage Loans per the applicable ASAP Contracts. purchase options expediting the sale of Mortgage LoansMortgage LoansMortgage 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 the applicable ASAP ContractsASAP ContractsASAP Sale Contract, ASAP Plus Contract, and ASAP Plus POC Contract. .
ASAP SaleASAP SalePurchase option where you Deliver a Mortgage Loan in exchange for cash while trading the Delivered Mortgage Loan MBS with an MBS Investor. ContractContractProgram Documents per the Multifamily Selling and Servicing Agreement. , ASAP PlusASAP PlusPurchase option expediting Mortgage Loan Delivery using a 2-stage process before redelivering for purchase per the applicable ASAP Contract. ContractContractProgram Documents per the Multifamily Selling and Servicing Agreement. , and ASAP PlusASAP PlusPurchase option expediting Mortgage Loan Delivery using a 2-stage process before redelivering for purchase per the applicable ASAP Contract. POC ContractContractProgram Documents per the Multifamily Selling and Servicing Agreement. .