L

  • Local Borrower

    For Small Mortgage LoansSmall Mortgage LoansMortgage Loan with an original loan amount less than or equal to $9 million. , a BorrowerBorrowerPerson who is the obligor per the Note. or at least 1 Key PrincipalKey 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. of the BorrowerBorrowerPerson who is the obligor per the Note. that has a primary residence located within 200 miles of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .

  • Low-Income Housing Tax Credit

    Federal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions.

M

  • MAI

    Member of Appraisal Institute.

  • MAMP

    Multifamily Asset Management Portal used to submit

    • PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). inspections,
    • operating statements,
    • requested modifications,
    • asset management reports, and
    • data corrections for loan or property attributes.

  • Manufactured Home

    Factory-built home complying with the Manufactured Home HUD CodeManufactured Home HUD CodeNational Manufactured Home Construction and Safety Standards Act of 1974 (HUD Code) (42 USC 5401 et seq) and the Manufactured Home Construction and Safety Standards (24 CFR Part 3280), as amended. .

  • Manufactured Home HUD Code

    National Manufactured Home Construction and Safety Standards Act of 1974 (HUD Code) (42 USC 5401 et seq) and the Manufactured Home Construction and Safety Standards (24 CFR Part 3280), as amended.

  • Manufactured Housing Community

    Residential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure.

  • Manufactured Housing Community Score

    Score of 3 through 5 based on characteristics of the MH CommunityMH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. per Part III, Chapter 6: Manufactured Housing Communities, Section 603.02: MH Community Score.

  • Manufactured Housing Site

    Developed lot within an MH CommunityMH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. on which a Manufactured HomeManufactured HomeFactory-built home complying with the Manufactured Home HUD Code. can be located.

  • Master Credit Facility Agreement

    Agreement evidencing the terms and conditions of a Credit FacilityCredit FacilityStructured Transaction governed by a Master Credit Facility Agreement requiring Mortgage Loans and Properties to be cross-defaulted, and cross-collateralized. .