Section 1001 | |
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Requirements
Healthy Housing RewardsTM provides incentives for BorrowersBorrowersPerson who is the obligor under the Note. who incorporate healthy design features or provide enhanced resident services that improve the health and stability of residents 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). .
You must not combine the Healthy Design product with the Enhanced Resident Services product.
Section 1002 | |
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Requirements
Product Description |
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Eligibility |
You must ensure:
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Certification Cost |
BorrowerBorrowerPerson who is the obligor under the Note.’s responsibility. |
Guidance
You may choose to pay the BorrowerBorrowerPerson who is the obligor under the Note.’s certification cost. Fannie Mae will reimburse you for the certification cost upon DeliveryDeliveryMeeting all of the data delivery requirements in , and submitting an acceptable Mortgage Loan Delivery Package per Part IV A: Mortgage Loan Commitment, Delivery and Purchase Procedures, Chapter 5. A Mortgage Loan is “Delivered,” when all documents, data, and information are correct, accurate, and….
Operating Procedures
Fitwel® Certification Process
To obtain a Fitwel® certification, the BorrowerBorrowerPerson who is the obligor under the Note. must:
- review the free Fitwel® for Multifamily Residential Scorecard available at www.fitwel.org/resources;
- decide if the certification is appropriate;
- begin the process by registering online at www.fitwel.org; and
- submit all application materials.
The review and certification process takes approximately 6 weeks.
DUS Gateway Process
To register a Healthy Design Property in DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. :
- select the Pricing/Fees category;
- select the Healthy Design Certification subcategory; and
- obtain a pricing quote that may include a pricing incentive.
Before Rate LockRate LockAgreement between the Lender and the Investor containing the terms of the Lender-Arranged Sale or Multifamily Trading Desk trade of the Mortgage Loan and the MBS terms and conditions relating to the underlying MBS, if applicable, which may be documented via a recorded telephone conversation. , you must upload the following documents to DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. as Third-Party Reports, with the Document type set to Healthy Design Certification:
- Fitwel® Star Rating Certificate; and
- BorrowerBorrowerPerson who is the obligor under the Note.’s invoice or payment receipt from Fitwel®.
If you choose to pay the BorrowerBorrowerPerson who is the obligor under the Note.’s certification cost and request reimbursement from Fannie Mae, you must upload the following additional documents as Third-Party Reports, with the Document type set to Healthy Design Certification:
- your invoice to Fannie Mae for reimbursement of the certification cost; and
- completed Servicing Advances Payment Reimbursement Request (Form 4829).
To receive reimbursement, you must request the reimbursement from the Deal TeamDeal TeamTeam responsible for reviewing Pre-Review Mortgage Loans, waivers, etc. via chatter in DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. and DeliverDeliverMeeting all of the data delivery requirements in , and submitting an acceptable Mortgage Loan Delivery Package per Part IV A: Mortgage Loan Commitment, Delivery and Purchase Procedures, Chapter 5. A Mortgage Loan is “Delivered,” when all documents, data, and information are correct, accurate, and… the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. as Healthy Housing Rewards.
Section 1003 | |
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Requirements
Product Description |
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Description |
For BorrowersBorrowersPerson who is the obligor under the Note. who provide resident services that improve the health and well-being of tenants at 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). . Services must correspond to the needs of the tenant population. |
Eligibility |
You must ensure:
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Certification Cost |
BorrowerBorrowerPerson who is the obligor under the Note.’s responsibility for the cost of all initial and ongoing 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 SponsorSponsorPrincipal equity owner and/or the primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). certifications. |
Underwriting |
You must ensure:
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Guidance
You may choose to pay 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). ’s initial ERSERSEnhanced Resident Services certification cost on behalf of the BorrowerBorrowerPerson who is the obligor under the Note.. Fannie Mae will reimburse you for 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). ’s initial ERSERSEnhanced Resident Services certification cost upon DeliveryDeliveryMeeting all of the data delivery requirements in , and submitting an acceptable Mortgage Loan Delivery Package per Part IV A: Mortgage Loan Commitment, Delivery and Purchase Procedures, Chapter 5. A Mortgage Loan is “Delivered,” when all documents, data, and information are correct, accurate, and….
Stewards of Affordable Housing for the Future (SAHF) refers to the SponsorSponsorPrincipal equity owner and/or the primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). -level certification as a CORES certification and the property-level certification as an Enhanced Resident Services Property certification.
Services that improve the health and well-being of tenants may support, among other things:
- health and wellness programs;
- food access;
- youth and education programming;
- community engagement;
- job training;
- financial literacy; and
- housing stability.
To meet project timelines, you may permit the BorrowerBorrowerPerson who is the obligor under the Note. to obtain the
- SponsorSponsorPrincipal equity owner and/or the primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). -level certification before identifying the property, and
- 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). -level certification in conjunction with underwriting the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. .
Both existing and proposed new services may be included to meet certification requirements. If 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). offers sufficient existing services to receive the required certifications, the BorrowerBorrowerPerson who is the obligor under the Note. does not need to provide additional services.
Operating Procedures
You calculate the Healthy Housing Rewards Enhanced Resident Services price reduction by multiplying the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. amount by the ERSERSEnhanced Resident Services price incentive granted by Fannie Mae.
DUS Gateway Process
You must register the deal in DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. and obtain the pricing quote by selecting both of the following options on the Pre-Review and/or Waiver Edits Screen.
Category |
Pre-Review (4660) |
Pricing/Fees |
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Sub-category |
Property Operations & Underwriting Terms |
Enhanced Resident Services Certification |
Descriptor |
Healthy Housing Rewards – Enhanced Resident Services |
N/A |
Prior to Rate LockRate LockAgreement between the Lender and the Investor containing the terms of the Lender-Arranged Sale or Multifamily Trading Desk trade of the Mortgage Loan and the MBS terms and conditions relating to the underlying MBS, if applicable, which may be documented via a recorded telephone conversation. , you must upload the following documents to DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. as Third-Party Reports, with the Document type set to “Enhanced Resident Services Certification”:
- the SponsorSponsorPrincipal equity owner and/or the primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). -level certification;
- 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). -level certification; and
- BorrowerBorrowerPerson who is the obligor under the Note.’s invoice or payment receipt from SAHF for 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). -level certification.
If you choose to pay for the BorrowerBorrowerPerson who is the obligor under the Note.’s initial 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). -level certification and request reimbursement from Fannie Mae, you must upload the following additional documents as Third-Party Reports, with the Document type set to Enhanced Resident Services Certification:
- your invoice to Fannie Mae for reimbursement 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). -level certification cost; and
- completed Form 4829.
To receive reimbursement, you must request the reimbursement from the Deal TeamDeal TeamTeam responsible for reviewing Pre-Review Mortgage Loans, waivers, etc. via chatter in DUS GatewayDUS GatewayMultifamily pre-acquisition system including deal registration, Pre-Review and/or waiver tracking, decision records, or any successor systems. and DeliverDeliverMeeting all of the data delivery requirements in , and submitting an acceptable Mortgage Loan Delivery Package per Part IV A: Mortgage Loan Commitment, Delivery and Purchase Procedures, Chapter 5. A Mortgage Loan is “Delivered,” when all documents, data, and information are correct, accurate, and… the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. as Healthy Housing Rewards.