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Program Documents per the Multifamily Selling and Servicing AgreementMultifamily Selling and Servicing AgreementProgram Documents per the Multifamily Selling and Servicing Agreement. .
Any:
- LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. internal roles or job functions reporting up to the Chief Production Officer;
- LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. employees who receive a commission or bonus if 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. closes, including any employees or functions that report up to these roles and/or their immediate supervisor;
- Mortgage Loan BrokersMortgage 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.
Team that can be contacted at [email protected].
For any LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. any:
a. senior executive officer serving as its president, chief executive officer, chief financial officer, chief operating officer, chief production officer, chief underwriter, chief asset manager, chief legal officer, chief information security officer, chief compliance officer, or substantially equivalent position;
b. individual with voting or approval rights over whether the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. commits to make a 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. ; or
c. Immediate Family MemberImmediate Family MemberAn individual’s child, stepchild, grandchild, grandparent, spouse, sibling, step-sibling, parent, or step-parent. of, or individual having a close relationship with, any individual identified in (a) or (b).
MBSMBSMortgage-Backed Security sold to the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. and held on its balance sheet or delivered to a Third Party MBS InvestorThird Party MBS InvestorMBS Investor for an MBS Mortgage Loan that is not the Multifamily Trading Desk. .
Letter of CreditLetter of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit.
London Interbank Offered Rate is the benchmark interest rate banks quote to lend funds to one another in the international interbank market for short-term loans.
Lien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind.
Internal Revenue Code Section 42 election allowing LIHTCLIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. property owners to rent units to households earning up to 80% of AMI, provided
- a minimum of 40% of the residential units are both rent-restricted and occupied by households with a maximum income up to an average of 60% of AMI, and
- the unit's rents are limited to 30% of the qualifying income level.
For example, for a 30% AMI unit, the maximum rent that may be charged to a household is 30% of AMI.
Cooperative OrganizationCooperative OrganizationCorporation or legal entity where each shareholder or equity owner is granted the right to occupy a unit in a multifamily residential property under a proprietary lease or occupancy agreement. that has income, rent, or equity build-up restriction (not including any transfer taxes), which may be dictated by a governmental entity, a third-party capital provider, or its own organizational documents.