Notification 24-06
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Form 4625.A
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HIGHLIGHTS |
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Effective as of February 16, 2024, the Counsel Designation Request for Interest Rate Hedge Transactions (Form 4625.A) was updated. |
Primary Changes
- Updated Form 4625.A:
- adding timing requirements for submitting requests for
- initial Interest Rate Caps, and
- replacement Interest Rate Caps;
- requiring you to submit a draft bid sheet to Counsel (approved by both you and the Borrower) within 5 Business Days after submission; and
- adding a contact email for Fannie Mae's Multifamily Legal Department.
- adding timing requirements for submitting requests for
- Created 5 new Schedule submission requirements including:
- Schedule 1 - Organizational Chart - allowing Counsel to run a check of potential legal conflicts;
- Schedule 2 - Essential Cap Terms;
- Schedule 3 - Required Underlying Documents;
- Schedule 4 - Required Form of Term Sheet; and
- Schedule 5 - Waivers (if applicable).
Questions
Please contact Rob Jefferson at (202) 752-7448, or [email protected], with any questions.