Joint and Several Borrower Ownership

A Mortgage Loan

• is made to joint and several Borrowers,
• is secured by multiple Properties, and
• has a Property owned by a different Borrower.

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. and each BorrowerBorrowerPerson who is the obligor per the Note. must comply with

• Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 302.01: Single-Asset Entity,
• Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 302.03: Joint and Several Borrowers with Multiple Properties, and
• Part II, Chapter 1: Attributes and Characteristics, Section 102.01: Single Borrower Ownership.