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  • Streamlined Treasury Lock

    Optional process permitting you to lock the IndexIndexBasis for determining an ARM Loan Gross Note Rate or entering a Streamlined Treasury Lock on a fixed rate Mortgage Loan, including any required alternative index deemed necessary by Fannie Mae because the prior Index: is no longer widely accepted; or was replaced as the index for similar… and hold the Investor SpreadInvestor SpreadRequired spread above the Index (excluding the Guaranty Fee and Servicing Fee) charged by the Investor purchasing the: Mortgage Loan; or MBS Mortgage Loan. and Total Credit FeesTotal Credit FeesFor any Mortgage Loan or Credit Enhancement Mortgage Loan, the sum of the Guaranty Fee and the Servicing Fee, specified in the: Indicative Pricing Table in DUS Gateway; or Quote Letter. before entering into either a:

    • Streamlined Rate LockStreamlined Rate LockOptional process permitting a Rate Lock before completing full Mortgage Loan underwriting, per Part IV, Chapter 3: Streamlined Rate Lock. ; or
    • standard Rate LockRate LockAgreement between you and the Investor containing the terms of the Lender-Arranged Sale or Multifamily Trading Desk trade of the Mortgage Loan and the MBS terms and conditions relating to the underlying MBS, if applicable, which may be documented via a recorded telephone conversation. per Part IV, Chapter 2: Rate Lock and Committing, Section 202: Obtaining a Rate Lock.

  • Structured Common Equity

    Equity interests in the Borrower'sBorrower'sPerson who is the obligor per the Note. organizational structure (not including 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…) where the investor has:

    • 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). rights; or
    • Control TakeoverControl TakeoverRight of an equity investor in the Borrower to, directly or indirectly, in violation of the Loan Agreement: change Control of the Borrower, Key Principal, or Guarantor; or effect a transfer of any direct or indirect ownership interest in the Borrower, Key Principal, or Guarantor. rights.

  • Structured Transaction Approval

    Fannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees.

  • Structured Transaction Loan Documents

    Documents executed for a Structured Transaction, including a Master Credit Facility or Bulk Delivery Agreement, an Interest Rate Hedge AgreementInterest Rate Hedge AgreementContract setting forth the terms and conditions of an Interest Rate Cap, Hedge, or Swap. , and all other required Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .

  • Student Housing Property

    A multifamily residential rental property in which 40% or more, but less than 80%, of the units are leased to either undergraduate or graduate students.

  • Subordinate Loan

    Multifamily residential real estate loan secured by a LienLienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. against 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). having a lesser priority than the LienLienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. securing another multifamily residential real estate loan on the same PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .

  • Supplemental 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. purchased by Fannie Mae that is subordinated to, and has a Mortgage Loan Origination DateMortgage Loan Origination DateDate you fund a Mortgage Loan to the Borrower. after, the Senior Mortgage LoanSenior Mortgage LoanSenior loan purchased by Fannie Mae. that is also owned by Fannie Mae.

  • Suspicious Activity Report

    Report made by a financial institution to the Financial Crimes Enforcement Network (FinCEN), regarding suspicious or potentially suspicious activity.

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  • T&I Custodial Account

    Custodial AccountCustodial AccountAccount established by the Servicer for depositing P&I payments, T&I payments, and escrow, reserve, or other funds received from the Borrower per any Loan Document, including the: Collateral Agreement; Multifamily Loan Agreement; or Security Instrument. for the deposit of T&IT&ITaxes or assessments that may become a Lien on the Property and insurance premiums. and other impound escrow funds.

  • T&I Impositions

    Amounts for taxes, insurance, and other charges assessed against or owing 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). which you deem necessary to protect 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). and/or prevent LiensLiensLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. imposed on it.