G

  • Ground Lease

    Contract for the rental of land, usually on a long term basis.

  • Guarantor

    Key Principal Key PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. or 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). executing a

    • Payment Guaranty Payment GuarantyGuaranty executed by a Key Principal on Form 4502 series or Form 6020 series, or approved by Fannie Mae. ,
    • Non-Recourse Guaranty Non-Recourse GuarantyGuaranty executed by a Key Principal on Form 4501 series or Form 6015 series, or approved by Fannie Mae. , or
    • any other 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 guaranty.

  • Guaranty

    Payment Guaranty Payment GuarantyGuaranty executed by a Key Principal on Form 4502 series or Form 6020 series, or approved by Fannie Mae. , Non-Recourse Guaranty Non-Recourse GuarantyGuaranty executed by a Key Principal on Form 4501 series or Form 6015 series, or approved by Fannie Mae. , or other guaranty by a Guarantor GuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. for 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 .

  • Guaranty Fee

    Fee retained by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! for credit enhancing a 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 or assuming credit risk on a 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 , and which may be expressed as a percentage.

  • Guide

    Multifamily Selling and Servicing Guide controlling all Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. and Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. requirements unless a Lender Contract Lender ContractProgram Documents per the Multifamily Selling and Servicing Agreement. specifies otherwise.

H

  • HAP Contract

    An agreement providing a HUD HUDU.S. Department of Housing and Urban Development Section 8 rental subsidy for the 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). in the form of a:

    • project-based voucher contract (PBV), or
    • project-based rental assistance contract (PBRA).

  • Hard Pay Preferred Equity

    Preferred Equity Preferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… structure in the Borrower BorrowerPerson who is the obligor per the Note. including the Preferred Equity Preferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… investor's right to a Control Takeover Control TakeoverRight of an equity investor in the Borrower to, directly or indirectly, in violation of the Loan Agreement: change Control of the Borrower, Key Principal, or Guarantor; or effect a transfer of any direct or indirect ownership interest in the Borrower, Key Principal, or Guarantor. while 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 is outstanding if the Preferred Equity Preferred EquityA direct or indirect investment in the Borrower, for which the organizational documents provide that equity investor with: an asset management fee or other fee before dividends, distributions, payments, or returns are paid to the investors; or preferred or unequal rights to receive… investor fails to receive returns required to be paid regardless of:

    • available Excess Net Cash Flow Excess Net Cash FlowFor any specified period, the Net Cash Flow remaining after subtracting, in order of priority: first, all amounts due and owing on the Mortgage Loan, including: principal and interest; and any other funding obligations per the Loan Documents;  second, any payments due on any… ; or
    • whether the 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). yields 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. sufficient to pay the returns.

  • High Performance Building Module

    PCA PCAAssessment of the Property's physical condition and historical operation. High Performance Building Module High Performance Building ModulePCA High Performance Building Module assessing cost effective opportunities to increase a Property’s energy and water efficiency and reduce costs. assessing cost effective opportunities to increase 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). energy and water efficiency and reduce costs.

  • High Seismic Risk

    Area or a specific site identified by the most recent USGS data (see United States Geological Survey (USGS) Peak Ground Acceleration (PGA PGAPeak Ground Acceleration as determined by the United States Geological Survey. ) Calculator Tutorial) as having a PGA PGAPeak Ground Acceleration as determined by the United States Geological Survey. equal to or greater than 0.15g (i.e., 15% of the acceleration of gravity (g) using a 10% probability of exceedance in a 50 year period).

  • Homeowner

    For an MH Community MH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. , a tenant of the Borrower BorrowerPerson who is the obligor per the Note. who pays ground rent to the owner for use and occupancy of the MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. and for use of the MH Community’s MH Community’sResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. utilities and amenities.