P
A direct or indirect investment in the Borrower BorrowerPerson who is the obligor per the Note. , 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 dividends, distributions, payments, or returns relative to other equity owners, but excluding:
- an equity investment made solely for the allocation of LIHTCs LIHTCsFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. ; or
- preferred dividends, distributions, payments, or returns paid to:
- a REIT Equity Investor from 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
- an equity investor in the form of
- payments or a promote return after pari passu payments are made to all equity investors based on a specified minimum internal rate of return or return threshold; or
- repayment of a protective advance to pay debt service or other amounts due under the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , or any other amounts reasonably required for the operation and maintenance of 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). .
Initial disclosure document for prospective Bond BondTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. purchasers containing terms, conditions, and information regarding the Bonds BondsTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. , the project, the Issuer IssuerEntity that: issues Bonds for a Credit Enhancement Mortgage Loan; packages mortgages for sale as a Security for an MBS; or issues a Letter of Credit. , the Borrower BorrowerPerson who is the obligor per the Note. and the credit enhancer.
For 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 prepayment, amount the Borrower BorrowerPerson who is the obligor per the Note. must pay in addition to the prepaid principal and accrued interest per the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .
Applicable Form 6104 series schedule to the Loan Agreement.
Last date when a Borrower BorrowerPerson who is the obligor per the Note. owes a Prepayment Premium Prepayment PremiumFor a Mortgage Loan prepayment, amount the Borrower must pay in addition to the prepaid principal and accrued interest per the Loan Documents. for a voluntary 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 prepayment.
Account you hold accumulating principal amortization payments for variable rate Bond BondTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. credit enhancements.
Tier TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 1, Tier TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 2, Tier TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 3, or Tier TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 4 per the Multifamily Underwriting Standards ( Form 4660 ).
Applicable DUS Pricing Memo or non-DUS Pricing Memo communicating pricing for various products and features.
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 where Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! bears all losses or you and Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! share losses.
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). who owns or controls, in the aggregate, directly or indirectly (together with that Person's Person'sLegal 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). Immediate Family Members Immediate Family MembersAn individual’s child, stepchild, grandchild, grandparent, spouse, sibling, step-sibling, parent, or step-parent. , if an individual), specified interests in the Borrower BorrowerPerson who is the obligor per the Note. per Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 303: Key Principals, Principals, and Guarantors.