Section 301

Generally

Operating Procedures

You must perform an overall risk assessment of the BorrowerBorrowerPerson who is the obligor under the Note., GuarantorGuarantorKey Principal or other Person who executes a Payment Guaranty, a Non-Recourse Guaranty, or any other guaranty in connection with the Mortgage Loan. , Key PrincipalsKey PrincipalsPerson(s) who control and/or manage the Borrower or the Property, are critical to the successful operation and management of the Borrower and the Property, and who may be required to provide a Guaranty. , and PrincipalsPrincipalsPerson who owns or controls specified interests in the Borrower per Part I: Mortgage Loan, Section 303. considering the specifics of the transaction.

Guidance

You should:

  • Complete a credit review by analyzing information about their
    • organizational structure,
    • multifamily business experience and qualifications,
    • general credit history, and
    • current and prospective financial condition.
  • Ensure that the financial strength, experience, qualifications, character, and credit history of the BorrowerBorrowerPerson who is the obligor under the Note., GuarantorGuarantorKey Principal or other Person who executes a Payment Guaranty, a Non-Recourse Guaranty, or any other guaranty in connection with the Mortgage Loan. , Key PrincipalsKey PrincipalsPerson(s) who control and/or manage the Borrower or the Property, are critical to the successful operation and management of the Borrower and the Property, and who may be required to provide a Guaranty. , and PrincipalsPrincipalsPerson who owns or controls specified interests in the Borrower per Part I: Mortgage Loan, Section 303. support the size, complexity, structure, and risk of the transaction.