Single Asset Entity Conversion

If the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. require the Borrower BorrowerPerson who is the obligor per the Note. to convert into a single asset entity that complies with  Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 302.01: Single-Asset Entity by a certain date, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to:

• grant a one-time extension of the date by up to 90 days;
• determine whether the extension requires an amendment to the Multifamily Loan Agreement Multifamily Loan AgreementAgreement evidencing Mortgage Loan terms using Form 6001 series Loan Documents, or another Fannie Mae-approved form. ; and
• document it in any form that the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. deems legally enforceable.