Guide Update 22-05
:
Multiple Properties with Co-Borrowers
HIGHLIGHTS |
Effective for Mortgage Loans Committed on or after April 8, 2022, the requirements for Mortgage Loans secured by multiple Properties with separate ownership structures were updated. |
Primary Changes
Added new requirements and Loan Documents when a Mortgage Loan is secured by multiple Properties and any Property is owned by a separate Borrower, including:
- Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals;
- Part II, Chapter 1: Attributes and Characteristics;
- Modifications to Multifamily Loan and Security Agreement (Co-Borrowers) (Form 6274); and
- Modifications to Security Instrument (Co-Borrowers) (Form 6322).
Questions
Please contact the Fannie Mae Deal Team with any questions.