1804.03

Survey

Requirements

Part II, Chapter 3: Legal Compliance, Section 305: Survey does not apply if the:

  • new mortgagee title insurance policy includes all title exceptions, including those that would appear based upon the most recent survey provided by the BorrowerBorrowerPerson who is the obligor per the Note. (whether it is the original survey for the Portfolio Mortgage LoanPortfolio Mortgage LoanMortgage Loan purchased by Fannie Mae and held as of a certain date regardless of whether it is a Cash Mortgage Loan or an MBS Mortgage Loan. or a subsequent one);
  • BorrowerBorrowerPerson who is the obligor per the Note. certifies that there have been no changes or improvements to 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). since the later of the date of the survey
    • referenced in the original title policy, or
    • most recently completed; 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). inspection report reveals no evidence of new construction or encroachments on the site from construction on adjoining properties.