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American Land Title Association
Seniors Housing Property Seniors Housing PropertyMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. with units and beds for residents with significant cognitive impairment resulting from Alzheimer’s disease or other dementia, which are typically licensed and regulated by a state or local government authority.
Written statement independently and impartially prepared by a qualified Appraiser AppraiserPerson engaged to estimate a Property’s market value per USPAP. stating an opinion of the Property's Property'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). market value
- as of a specific date, and
- supported by the presentation and analysis of relevant market information.
Effective date of value in the Appraisal AppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. .
Appraiser’s Appraiser’sPerson engaged to estimate a Property’s market value per USPAP. estimated Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). Net Cash Flow Net Cash FlowAt underwriting or for any specified period, the amount calculated per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III. per the Appraisal AppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. .
Per the Loss Sharing Addendum.
Appraiser’s Appraiser’sPerson engaged to estimate a Property’s market value per USPAP. opinion of the Property's Property'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). market value documented in the Appraisal AppraisalWritten statement independently and impartially prepared by a qualified Appraiser stating an opinion of the Property's market value as of a specific date, and supported by the presentation and analysis of relevant market information. , on an “as is” basis, unless use of an “as completed” basis is specifically permitted per the Guide GuideMultifamily Selling and Servicing Guide controlling all Lender and Servicer requirements unless a Lender Contract specifies otherwise. .
Person PersonLegal person, including an individual, estate, trust, corporation, partnership, limited liability company, financial institution, joint venture, association, or other organization or entity (whether governmental or private). engaged to estimate a Property’s Property’sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). market value per USPAP USPAPUniform Standards of Professional Appraisal Practice .
Various As Soon As Pooled As Soon As PooledVarious As Soon As Pooled purchase options expediting the sale of Mortgage Loans per the applicable ASAP Contracts. purchase options expediting the sale of Mortgage Loans Mortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 per the applicable ASAP Contracts ASAP ContractsASAP Sale Contract, ASAP Plus Contract, and ASAP Plus POC Contract. .
ASAP Sale ASAP SalePurchase option where you Deliver a Mortgage Loan in exchange for cash while trading the Delivered Mortgage Loan MBS with an MBS Investor. Contract ContractProgram Documents per the Multifamily Selling and Servicing Agreement. , ASAP Plus ASAP PlusPurchase option expediting Mortgage Loan Delivery using a 2-stage process before redelivering for purchase per the applicable ASAP Contract. Contract ContractProgram Documents per the Multifamily Selling and Servicing Agreement. , and ASAP Plus ASAP PlusPurchase option expediting Mortgage Loan Delivery using a 2-stage process before redelivering for purchase per the applicable ASAP Contract. POC Contract ContractProgram Documents per the Multifamily Selling and Servicing Agreement. .