Co-Tenant Borrowers

Requirements

You must ensure that any Co-Tenant BorrowerCo-Tenant BorrowerBorrower consisting of tenants-in-common that own the Property in equal or unequal shares. meets these eligibility requirements:

• the BorrowerBorrowerPerson who is the obligor per the Note. has no more than 10 co-tenants;
• no co-tenant is an individual; and
• each co-tenant:
  • is a single-asset entity complying with Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 302.01: Single-Asset Entity;
  • is underwritten as a stand-alone BorrowerBorrowerPerson who is the obligor per the Note. ;
  • complies with Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 303: Key Principals, Principals, and Guarantors; and
  • has jointly and severally executed the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .