601.01

Submission

Requirements

You must:

  • Maintain a ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. WatchlistWatchlistThe risk rating classification if you or Fannie Mae determine the Mortgage Loan has heightened credit risk. for your Portfolio Mortgage LoansPortfolio Mortgage LoansMortgage Loan purchased by Fannie Mae and held as of a certain date regardless of whether it is a Cash Mortgage Loan or an MBS Mortgage Loan. that
    • reflects your loan rating methodology, and
    • identifies Mortgage LoansMortgage LoansMortgage 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 heightened credit risk.
  • Submit your ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. WatchlistWatchlistThe risk rating classification if you or Fannie Mae determine the Mortgage Loan has heightened credit risk. for all
    • Primary Risk Mortgage LoansPrimary Risk Mortgage LoansMortgage Loan where Fannie Mae bears all losses or where the Lender and Fannie Mae share losses. , and
    • Secondary Risk Mortgage LoansSecondary Risk Mortgage LoansMortgage Loan where the Lender bears all losses until the Lender’s recourse obligations are exhausted. .

Operating Procedures

Submit your ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. WatchlistWatchlistThe risk rating classification if you or Fannie Mae determine the Mortgage Loan has heightened credit risk. :

  • using the CSV upload template located under “Guides and Templates” in the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. ; and
  • within 45 days after each calendar quarter end, but no later than the due date shown in the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. .

For each 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. , you must:

  • Respond “Yes” or “No” to the following 2 questions:
    • Will the BorrowerBorrowerPerson who is the obligor per the Note. likely not be able to make timely debt service payments?
    • Will the BorrowerBorrowerPerson who is the obligor per the Note. likely not meet the contractual obligations to timely pay off the 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. UPBUPBUnpaid Principal Balance ?
  • Explain
    • why it is being reported, and
    • the rationale for its rating.
  • Describe the current status of the issues.