Expanded Housing Choice

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. with an Expanded Housing Choice pricing incentive requires additional monitoring.

Fannie Mae:

may conduct fair housing testing 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. delivered with an Expanded Housing Choice pricing incentive; and
will notify the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. if the fair housing testing or any other information reveals the BorrowerBorrowerPerson who is the obligor per the Note. is not complying with Part III, Chapter 23: Expanded Housing Choice; and may, for any noncompliance:
- require the Borrower'sBorrower'sPerson who is the obligor per the Note. employees to complete fair housing training;
- require Supplemental Annual Loan Agreement Certification (Expanded Housing Choice) (Form 6620.Supplemental.Expanded Housing Choice); and/or
- notify the BorrowerBorrowerPerson who is the obligor per the Note. it is in default.

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must:

if not already received by April 15, notify the BorrowerBorrowerPerson who is the obligor per the Note. a rent roll or rent schedule dated as of December 31st of the previous year is due 120 days after the end of the prior calendar year;
within 120 days after each December 31:
- obtain from the BorrowerBorrowerPerson who is the obligor per the Note. the rent schedule or rent roll dated as of December 31 of the previous year; and
- submit a Streamlined Rent Roll (Form 4241);
comply with the following table for any Loan DocumentLoan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. defaults; and
retain in its Servicing FileServicing FileYour file for each Mortgage Loan serviced. , copies of:
- Form 4241;
- any required Form 6620.Supplemental.Expanded Housing Choice; and
- any BorrowerBorrowerPerson who is the obligor per the Note. notices, including Reservation of Rights Letters (Form 4804), required for:
  - fair housing training; or
  - Loan DocumentLoan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. defaults.

If the Borrower...	The Servicer must...
Fails to submit the December 31 rent roll or rent schedule for the prior year within 120 days after the end of the calendar year	send the BorrowerBorrowerPerson who is the obligor per the Note. a Reservation of Rights Letter (Form 4804) specifying: the rent roll must be submitted within 30 days; and if not submitted, the Expanded Housing Choice Monetary Penalty will be due per the Modification to Multifamily Loan and Security Agreement (Expanded Housing Choice) (Form 6273); and submit a Non-Monetary Default Borrower Request in the MAMP.
Fails to submit the December 31 rent roll or rent schedule for the prior calendar year within the 30-day period after receipt of the Reservation of Rights Letter	collect from the BorrowerBorrowerPerson who is the obligor per the Note. and remit to Fannie Mae the Expanded Housing Choice Monetary Penalty per Form 6273.
Fails to submit any required Expanded Housing Choice Monetary Penalty per Form 6273	send the BorrowerBorrowerPerson who is the obligor per the Note. a Reservation of Rights Letter (Form 4804) stating the BorrowerBorrowerPerson who is the obligor per the Note. is in default; and submit a Non-Monetary Default Borrower Request in the MAMP.
Fails a first round of fair housing testing	ensure the BorrowerBorrowerPerson who is the obligor per the Note. conducts fair housing training for its employees per Fannie Mae’s requirements.
Fails a second round of fair housing testing	ensure the BorrowerBorrowerPerson who is the obligor per the Note. conducts additional fair housing training for its employees per Fannie Mae’s requirements; and require the BorrowerBorrowerPerson who is the obligor per the Note. to submit Supplemental Annual Loan Agreement Certification (Expanded Housing Choice) (Form 6620.Supplemental.Expanded Housing Choice).
Fails to complete any required fair housing training within the required time frame	send the BorrowerBorrowerPerson who is the obligor per the Note. a Reservation of Rights Letter (Form 4804) stating the BorrowerBorrowerPerson who is the obligor per the Note. is in default; and submit a Non-Monetary Default Borrower Request in the MAMP.
Fails to provide any required Supplemental Annual Loan Agreement Certification (Expanded Housing Choice) (Form 6620.Supplemental.Expanded Housing Choice)	send the BorrowerBorrowerPerson who is the obligor per the Note. a Reservation of Rights Letter (Form 4804) stating the BorrowerBorrowerPerson who is the obligor per the Note. is in default; and submit a Non-Monetary Default Borrower Request in the MAMP.
Fails a third round of fair housing testing	ensure the BorrowerBorrowerPerson who is the obligor per the Note. enters into a remedial housing plan with Fannie Mae per Form 6273; and submit a Non-Monetary Default Borrower Request in the MAMP.
Is otherwise determined not to be complying with Part III, Chapter 23: Expanded Housing Choice	send the BorrowerBorrowerPerson who is the obligor per the Note. a Reservation of Rights Letter (Form 4804) stating the BorrowerBorrowerPerson who is the obligor per the Note. is in default; and submit a Non-Monetary Default Borrower Request in the MAMP.