Facility Revaluations

Revaluations of Credit FacilitiesCredit FacilitiesStructured Transaction governed by a Master Credit Facility Agreement requiring Mortgage Loans and Properties to be cross-defaulted, and cross-collateralized. and Bulk DeliveriesBulk DeliveriesStructured Transaction governed by a Bulk Delivery Agreement that allows future: Mortgage Loan additions; and/or Property substitutions. occur as required by the Master Credit Facility AgreementMaster Credit Facility AgreementAgreement evidencing the terms and conditions of a Credit Facility. and Bulk Delivery Agreement.  ServicersServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must send recommended property cap rates and values along with supporting market information through the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. .  Upon completion of Fannie Mae’s review, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. will be notified of the final cap rate determination and valuation.  The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must promptly notify the BorrowerBorrowerPerson who is the obligor per the Note. of the revised cap rates, PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). values, Allocable Facility AmountsAllocable Facility AmountsFor a Credit Facility, the amount of debt allocated to a given Property, used in calculating tests for collateral activity such as releases, substitutions, and additions. , LTVLTVRatio of the actual aggregate UPB of the Mortgage Loan, plus any Pre-Existing Mortgage Loans, plus any Hard Pay Preferred Equity, plus any Mezzanine Financing, to the value of the Property, expressed as a percentage.  , and the failure to meet any compliance tests (if applicable).  The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must attach a copy of this BorrowerBorrowerPerson who is the obligor per the Note. correspondence to the request in the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. .