907.03
PCA
Requirements
A PCAPCAAssessment of the current physical condition and historical operation of the Property. is required:
- if the site inspection
- notes structural or physical concerns, or
- results in an overall rating of 3 being reported on the Comp Assmt Addendum tab of the MBAMBAMortgage Bankers Association Master Inspection Form; or
- for certain non-recourse lending per Form 4660Form 4660Multifamily Underwriting Standards identifying Pre-Review Mortgage Loans and containing the minimum underwriting requirements (e.g., debt service coverage ratio, loan to value ratio, interest only, underwriting floors, etc.) for all Mortgage Loans. .
Guidance
When a PCAPCAAssessment of the current physical condition and historical operation of the Property. is required, you may use:
- the Streamlined Property Condition Assessment Guidance (Form 4099.A), but the PCAPCAAssessment of the current physical condition and historical operation of the Property. must otherwise comply with Part II, Chapter 4: Inspections and Reserves, Section 402: Property Condition Assessment (PCA); and
- the Streamlined PCA Requirements (Form 4099.A) instead of the MBAMBAMortgage Bankers Association Master Inspection Form, if you include the overall inspection rating as defined on the MBAMBAMortgage Bankers Association Master Inspection Form.