404.03

Conducting the PCA

Requirements

When conducting the PCA PCAAssessment of the Property's physical condition and historical operation. , you must:

  • comply with  Form 4099 , and order all applicable PCA PCAAssessment of the Property's physical condition and historical operation. modules;
  • identify all conditions that impact resident safety, marketability, or value of the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ; and
  • properly mitigate those conditions.

If you retain a PCA Consultant PCA ConsultantIndividual or firm conducting a PCA and preparing a PCA Report. that does not meet the educational qualifications or professional certifications, registrations, or training required by  Form 4099 , you must:

  • determine that the PCA Consultant PCA ConsultantIndividual or firm conducting a PCA and preparing a PCA Report. is qualified based on their alternative qualifications; and
  • attach your description of the PCA Consultant’s PCA Consultant’sIndividual or firm conducting a PCA and preparing a PCA Report. qualifications to the final PCA PCAAssessment of the Property's physical condition and historical operation. .

You must have an annual quality control program to review

  • the quality of the PCAs PCAsAssessment of the Property's physical condition and historical operation. performed by your PCA Consultant PCA ConsultantIndividual or firm conducting a PCA and preparing a PCA Report. , and
  • your compliance with the requirements in this Section and the  Form 4099 .