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  • Last Paid Installment

    Due date of the last payment received.

  • Lease

    Written agreement between an owner and the tenant of a 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). stipulating the conditions for possession and use of real estate for a specified period of time and rent.

  • Leasehold

    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). held under a long-term lease or Ground Lease Ground LeaseContract for the rental of land, usually on a long term basis. .

  • Lender

    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). Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! approved to sell or service 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 .

  • Lender Affiliate

    Other 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). or entity that Controls ControlsPossessing, directly or indirectly, the power to direct or cause the management and operations of an entity (e.g., through the ownership of voting securities or other ownership interests, or by contract). , is Controlled ControlledPossessing, directly or indirectly, the power to direct or cause the management and operations of an entity (e.g., through the ownership of voting securities or other ownership interests, or by contract). by, or is under common Control ControlPossessing, directly or indirectly, the power to direct or cause the management and operations of an entity (e.g., through the ownership of voting securities or other ownership interests, or by contract). with, the Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. .

  • Lender Appraisal Function

    The Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. :

    • internal roles or job functions, including any employees that report up to the Chief Underwriter (but excluding any Lender Loan Origination Functions Lender Loan Origination FunctionsAny: Lender internal roles or job functions reporting up to the Chief Production Officer; Lender employees who receive a commission or bonus if the Mortgage Loan closes, including any employees or functions that report up to these roles and/or their immediate supervisor; Mortgage Loan… ), involved with the following 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. -related responsibilities:
      • engaging the Appraiser AppraiserPerson engaged to estimate a Property’s market value per USPAP. ;
      • defining the Appraisal’s Appraisal’sWritten 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. scope of work;
      • managing the Appraiser AppraiserPerson engaged to estimate a Property’s market value per USPAP. ; or
      • reviewing 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. ; and
    • employees or Outside Parties Outside PartiesPerson you retain to perform services for multifamily Mortgage Loans (e.g., Appraisers, inspectors, Correspondents, law firms, engineers, environmental consultants, and Brokers, title companies, or title agents). who perform or manage those job functions.

  • Lender Assessment Oversight

    Team that can be contacted at [email protected].

  • Lender Contract

    Program Documents per the Multifamily Selling and Servicing Agreement Multifamily Selling and Servicing AgreementProgram Documents per the Multifamily Selling and Servicing Agreement. .

  • Lender Loan Origination Function

    Any:

    • Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. internal roles or job functions reporting up to the Chief Production Officer;
    • Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. employees who receive a commission or bonus if the Mortgage Loan Mortgage 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. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 closes, including any employees or functions that report up to these roles and/or their immediate supervisor;
    • Mortgage Loan Brokers Mortgage Loan BrokersThird-party Person who arranges Mortgage Loan financing on the Borrower’s behalf, or Transfers/Assumptions on behalf of the new Borrower for an assumption, or transferee for a transfer. ; or
    • Correspondents.

  • Lender Risk Management

    Team that can be contacted at [email protected].