805.05B

Survey

A new survey of the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). is required, unless:

  • the new mortgagee title insurance policy for the In Place LoanIn Place LoanMortgage Loan refinancing a Portfolio Mortgage Loan that does not meet Tier 2 underwriting requirements. includes all title exceptions, including those that would appear on the most recent survey provided by the BorrowerBorrowerPerson who is the obligor under the Note. to the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. ;
  • the BorrowerBorrowerPerson who is the obligor under the Note. certifies that there have been no changes to the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). since the later of (i) the date of the survey referenced in the original title policy for the Portfolio Mortgage LoanPortfolio Mortgage LoanMortgage Loan that was purchased by Fannie Mae and is held as of a certain date regardless of whether it is a Cash Mortgage Loan or an MBS Mortgage Loan. , or (ii) the date of most recent survey of the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). ; and
  • the Lender'sLender'sPerson approved by Fannie Mae to sell or service Mortgage Loans. inspection of the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). reveals no evidence of new construction on the site or encroachments on the site from adjoining properties.