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  • Servicing Fee

    Fee a ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. receives for collecting payments, managing operational procedures, and assuming your portion of credit risk for 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. , and which may be expressed as a percentage.

  • Servicing File

    Your file for each 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. serviced.

  • Servicing Transfer Memo

    Document for engaging counsel and commencing foreclosure proceedings (e.g., Form 4808).

  • Servicing Workout Action Template

    Form 4810 documenting a Non-Performing Mortgage LoanNon-Performing Mortgage LoanMortgage Loan with an uncured default. action plan.

  • Shared Use Documents

    Agreements benefiting and/or burdening a Shared Use PropertyShared Use PropertyProperty subject to Shared Use Documents: benefiting the Property by granting the right to use Essential Elements on common areas created by, or other properties subject to, the Shared Use Documents, and/or burdening the Property by: subjecting it to: property-use or other…, such as:

    • reciprocal easement agreements (REA);
    • declaration of covenants;
    • conditions and restrictions (CCR);
    • development agreements;
    • shared use agreements;
    • joint ownership agreement or similar agreements governing homeowners’ associations (HOAs);
    • planned unit developments (PUDs); or
    • other common interest arrangements or planned developments.

  • Shared Use 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). subject to Shared Use DocumentsShared Use DocumentsAgreements benefiting and/or burdening a Shared Use Property, such as: reciprocal easement agreements (REA); declaration of covenants; conditions and restrictions (CCR); development agreements; shared use agreements; joint ownership agreement or similar agreements governing…:

    • benefiting 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). by granting the right to use Essential ElementsEssential ElementsA Shared Use Property’s amenities, common areas or infrastructure: impacting or essential to the: operation, use, value and marketability, leasing, refinancing, and/or zoning or legal compliance; and examples of Essential Elements may include: parking, … on common areas created by, or other properties subject to, the Shared Use DocumentsShared Use DocumentsAgreements benefiting and/or burdening a Shared Use Property, such as: reciprocal easement agreements (REA); declaration of covenants; conditions and restrictions (CCR); development agreements; shared use agreements; joint ownership agreement or similar agreements governing…, and/or
    • burdening 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). by:
      • subjecting it to:
        • property-use or other restrictive covenants;
        • fees or assessments; or
        • maintenance obligations; or
      • allowing other parties subject to the Shared Use Documents the right to use the Essential ElementsEssential ElementsA Shared Use Property’s amenities, common areas or infrastructure: impacting or essential to the: operation, use, value and marketability, leasing, refinancing, and/or zoning or legal compliance; and examples of Essential Elements may include: parking, … located 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). .

  • Short Term 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). permitting leases or master leases (including subleases, licenses, and other possessory interests, whether oral or written) of an individual dwelling unit where the intended occupancy of the unit is for less than 30 days, regardless of the stated lease term, such as through a peer-to-peer online marketplace or homestay network (e.g., Airbnb, VRBO®, etc.).

  • SIFMA Municipal Swap Index

    The SecuritiesSecuritiesMBS, PFP MBS, or REMIC. Industry and Financial Markets Association (SIFMA) Municipal Swap Index.

  • Skilled Nursing

    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 that are highly regulated and provide 24-hour resident supervision and registered nursing care services.

  • Small Mortgage Loan

    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 original loan amount less than or equal to $9 million.