D
Process for managing Non-Performing Mortgage LoansNon-Performing Mortgage LoansMortgage Loan with an uncured default. that engages in BorrowerBorrowerPerson who is the obligor per the Note. negotiations to achieve an acceptable workout while simultaneously proceeding with the foreclosure process.
Delegated Underwriting and Servicing
Multifamily pre-acquisition system, or any successor systems, recording deal registration, Pre-ReviewPre-ReviewRequirement that you obtain Fannie Mae’s approval before you Rate Lock a Mortgage Loan. and/or waiver tracking, 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. CommitmentsCommitmentsContractual agreement between you and Fannie Mae where Fannie Mae agrees to buy a Mortgage Loan at a future date in exchange for an MBS, or at a specific price for a Cash Mortgage Loan, and you agree to Deliver that Mortgage Loan. , and decision records.
LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. approved to DeliverDeliverSubmission of all correct, accurate, and certifiable documents, data, and information with all applicable documents properly completed, executed, and recorded as needed, and any deficiencies resolved to Fannie Mae’s satisfaction. loans under the Delegated Underwriting and Servicing program.
Mezzanine FinancingMezzanine FinancingSubordinate debt financing provided to a direct or indirect owner of a Borrower that is secured by a pledge of the direct or indirect equity interest in the Borrower held by the owner, and not by a Lien on the Property. provided by an approved mezzanine lending affiliate of a DUS LenderDUS LenderLender approved to Deliver loans under the Delegated Underwriting and Servicing program. .
Mezzanine FinancingMezzanine FinancingSubordinate debt financing provided to a direct or indirect owner of a Borrower that is secured by a pledge of the direct or indirect equity interest in the Borrower held by the owner, and not by a Lien on the Property. option provided by the Fannie Mae-designated mezzanine LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. .
E
On an annual basis or any specified period, the total of Net Rental IncomeNet Rental IncomeOn an annual basis or any specified period, the net rental income for a Property (per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III). plus other income per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III.
Energy- and water-efficiency measures that the BorrowerBorrowerPerson who is the obligor per the Note. agrees to implement per the Multifamily Loan AgreementMultifamily Loan AgreementAgreement evidencing Mortgage Loan terms using Form 6001 series Loan Documents, or another Fannie Mae-approved form. to qualify as a Green Rewards Mortgage LoanGreen Rewards Mortgage LoanMortgage Loan secured by a Property where the Borrower agrees to undertake 1 or more Energy- and Water-Efficiency Measures that comply with Part III, Chapter 4: Green Mortgage Loans, Section 403: Green Rewards Mortgage Loans. , and which project a reduction in the Property'sProperty'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). annual energy or water consumption.
Legal or physical restrictions or limitations on the use of, or access to, all or any portion of a site, facility, groundwater, soils, or other media at, on, about or under a site or facility to reduce or eliminate potential exposure to Hazardous Materials or to prevent activities that could interfere with the effectiveness of a Hazardous Materials removal, response or remediation.