307.01

Multifamily Underwriting Certificate (Form 6460)

Requirements

You must:

  • obtain the appropriate Multifamily Underwriting Certificate Multifamily Underwriting CertificateMultifamily Underwriting Certificate (Form 6460 series) , and/or other agreement approved by Fannie Mae that provides underwriting information for a Mortgage Loan. (Form 6460) from
    • the Borrower BorrowerPerson who is the obligor per the Note. ,
    • any Guarantor GuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. , and
    • each 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. ; and
  • retain a copy of each  Form 6460  in your Servicing File Servicing FileYour file for each Mortgage Loan serviced. . 

You must ensure the  Form 6460 : 

  • is signed and certified as
    •  true,
    • correct, and
    • complete;
  • has all corresponding financial documents attached;
  • includes representations by the Borrower BorrowerPerson who is the obligor per the Note. , Guarantor GuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. , or 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. that, to their knowledge, all
    •  financial statements and schedules
      •   are dated within 15 months of the certification date,
      •   were prepared by the Borrower BorrowerPerson who is the obligor per the Note. , Guarantor GuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. , or 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 their independent accounting firm,
      •   are true, correct, and provide a current and accurate account of the financial condition 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). ,
        • Borrower BorrowerPerson who is the obligor per the Note. ,
        • Key Principals Key PrincipalsPerson 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. , and
        • Guarantors GuarantorsKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. ; and   
    •  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). condition information provided to you or to the PCA Consultant PCA ConsultantIndividual or firm conducting a PCA and preparing a PCA Report. is correct as of the date provided; and
  • either:
    • is dated within 90 days before the Commitment Date Commitment DateDate a Commitment is confirmed by Fannie Mae per Part IV, Chapter 2: Rate Lock and Committing, Section 204: Commitments. ; or
    • includes a certification of no material adverse changes to the financial condition shown in the financial statements delivered per the  Form 6460     from each of the
      • Borrower BorrowerPerson who is the obligor per the Note. , 
      • Key Principals Key PrincipalsPerson 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. , and
      • Guarantor GuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. .