507.02

Management and Operations Reports

Requirements

You must obtain management and operations reports for the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). that assess:

  • competency, performance, and experience of management at the corporate, regional, and PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). levels;
  • qualifications of key personnel,
    • noting their experience and length of time in current positions at the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). , and
    • including copies of available resumes;
  • hiring and screening practices and personnel policies (such as employee handbooks, orientation materials, initial and in-service training materials, available resources);
  • staffing levels, composition, and qualifications;
  • risk management policies and procedures, including an analysis of the backgrounds of individuals employed to handle insurance and risk management matters;
  • policies and procedures supporting and aligning resident services;
  • availability and use of home health services, including whether
    • home health services are available,
    • home health services are provided by the BorrowerBorrowerPerson who is the obligor per the Note. , the Seniors Housing Operator, an AffiliateAffiliateWhen referring to an affiliate of a Lender, any other Person or entity that Controls, is Controlled by, or is under common Control with, the Lender. When referring to an affiliate of a Borrower or Key Principal: any Person that owns any direct ownership interest in Borrower or Key… of the BorrowerBorrowerPerson who is the obligor per the Note. or the operator, or a third party, and
    • the home services provider leases space at the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ;
  • policies and procedures for documenting residents’ well-being (such as periodic resident assessments, tracking the general health condition of each resident, resident safety and evacuation plans);
  • content of the admission application and the residency or lease agreement;
  • resident turnover data;
  • availability of replacements for the Seniors Housing Operator; and
  • overall management and operations, including an analysis and detailed recommendations for any other matters material to the ownership, operation, or management of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .