Letter of CreditLetter of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. that is released as collateral when a certain event occurs or a requirement is met (e.g., construction completion, or minimum occupancy or EGIEGIOn an annual basis or any specified period, the total of Net Rental Income plus other income per Part II: Property, Section 202 and the applicable products and features in Part III. level reached).
Achievement Letter of Credit
Achievement Letters of Credit