Waiver Request

Operating Procedures

Waiver Reason	Action
Unresponsive Borrower	Request the BorrowerBorrowerPerson who is the obligor per the Note. provide the missing statements. If the BorrowerBorrowerPerson who is the obligor per the Note. does not respond after 3 written requests, wait to submit a waiver request via 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. until: for an annual report, 6 months after the due date; or for a quarterly report, the next due date. Include “Unresponsive Borrower” as the waiver condition 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. . Provide copies of all relevant BorrowerBorrowerPerson who is the obligor per the Note. correspondence. Provide any additional requested information.
All Others	Submit a waiver request via 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. if: Your Lender ContractLender ContractProgram Documents per the Multifamily Selling and Servicing Agreement. does not require collecting PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). operating statements. The Mortgage Loan DocumentsMortgage Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. do not permit you to collect, nor require the BorrowerBorrowerPerson who is the obligor per the Note. to submit, financial reports. 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. : liquidated in the current quarter (for quarterly reporting waivers), or year (for annual reporting waivers), before the Financial Analysis of Operations submission due date; was delivered per a Forward CommitmentForward CommitmentCommitment to purchase a permanent Mortgage Loan for a to-be constructed or rehabilitated Property. and has not yet converted to a permanent loan; was defeased; has FHAFHAFederal Housing Administration or HUDHUDU.S. Department of Housing and Urban Development risk sharing; is managed by Fannie Mae’s Special Asset ManagementSpecial Asset ManagementTeam performing Fannie Mae’s Special Servicing that can be contacted at [email protected]. ; or was acquired by Fannie Mae in the current reporting year, and less than 6 months of PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). operating data is available.

Waiver Reason

Action

Unresponsive Borrower

Request the BorrowerBorrowerPerson who is the obligor per the Note. provide the missing statements.
If the BorrowerBorrowerPerson who is the obligor per the Note. does not respond after 3 written requests, wait to submit a waiver request via 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. until:
- for an annual report, 6 months after the due date; or
- for a quarterly report, the next due date.
Include “Unresponsive Borrower” as the waiver condition 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. .
Provide copies of all relevant BorrowerBorrowerPerson who is the obligor per the Note. correspondence.
Provide any additional requested information.

All Others

Submit a waiver request via 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. if:

Your Lender ContractLender ContractProgram Documents per the Multifamily Selling and Servicing Agreement. does not require collecting PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). operating statements.
The Mortgage Loan DocumentsMortgage Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. do not permit you to collect, nor require the BorrowerBorrowerPerson who is the obligor per the Note. to submit, financial reports.
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. :
- liquidated in the current quarter (for quarterly reporting waivers), or year (for annual reporting waivers), before the Financial Analysis of Operations submission due date;
- was delivered per a Forward CommitmentForward CommitmentCommitment to purchase a permanent Mortgage Loan for a to-be constructed or rehabilitated Property. and has not yet converted to a permanent loan;
- was defeased;
- has FHAFHAFederal Housing Administration or HUDHUDU.S. Department of Housing and Urban Development risk sharing;
- is managed by Fannie Mae’s Special Asset ManagementSpecial Asset ManagementTeam performing Fannie Mae’s Special Servicing that can be contacted at [email protected]. ; or
- was acquired by Fannie Mae in the current reporting year, and less than 6 months of PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). operating data is available.

If you receive operating statements after a waiver was granted, you must promptly submit the Financial Analysis of Operations report (Form 4254 or Form 4254.Seniors).