Guide Update 23-20
:  Shared Use Properties
Effective:
Shared Use Properties (Redline).pdf
Form 6276
Form 6324

HIGHLIGHTS

Effective for Mortgage Loans Committed as of September 18, 2023, updated underwriting information, Loan Documents, and forms for Shared Use Properties. 

 

Primary Changes

  • In Part II:
    • Chapter 1: Attributes and Characteristics, created a new Section 108: Shared Use Properties; and
    • Chapter 2: Valuation and Income, updated the NCF calculation to include assessments for Shared Use Properties.
  • Created/revised Loan Documents for Shared Use Properties, including: 
    • Modifications to Multifamily Loan and Security Agreement (Shared Use of Essential Elements) (Form 6276); 
    • Estoppel Certificate attached to Form 6276; and
    • Modifications to Security Instrument (Joinder and Consent (Affiliate-Owned Common Elements)) (Form 6324).

 

Questions

Please contact the Fannie Mae Deal Team with any questions.