218.03G

Closing Documents

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must deliver to Fannie Mae by no later than 10 a.m. ET, five (5) Business DaysBusiness DaysAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. before the Defeasance Close Date, the following documents:

  • a Borrower's Counsel Opinion Letter (Form 6618) affirming:
    • that each DefeasanceDefeasanceTransaction where a Property is released from the lien of the Security Instrument and the Lender receives a valid and perfected lien and security interest in substitute collateral acceptable to Fannie Mae and the cash flows thereunder. Document constitutes the valid and legally binding obligation of the BorrowerBorrowerPerson who is the obligor per the Note. , enforceable against the BorrowerBorrowerPerson who is the obligor per the Note. in accordance with its terms;
    • that the defeasance is not subject to avoidance under any applicable federal or state laws;
    • that, if the NoteNoteInstrument evidencing a Mortgage Loan obligation, including  Form 6010 series,  any other Fannie Mae-approved note, and  all applicable addenda, schedules, and exhibits.  is held by a REMIC Trust, then the defeasance has been effected in such a way that does not adversely affect the REMIC Trust; and
    • such other opinions, certificates, documents or instruments as ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. may reasonably request;
  • the Defeasance Assignment and Assumption Agreement (Form 4528); and
  • the Defeasance Pledge Agreement (Form 4529).

Transmittal of these documents shall be accompanied by a completed Multifamily Defeasance Transmittal Form (Form 4631).