416.10E
Re-Underwriting Assessments
For any Trigger EventTrigger EventPer the Master Credit Facility Agreement, a defined event that gives the right to fully re-underwrite the Credit Facility per the Underwriting and Servicing Requirements. , the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must:
- immediately notify:
- Fannie Mae in writing at:
- Multifamily Structured Asset ManagementMultifamily Structured Asset ManagementTeam that can be contacted at [email protected]. ; and
- [email protected]; and
- the BorrowerBorrowerPerson who is the obligor per the Note. that all items required for re-underwriting per the Master Credit Facility AgreementMaster Credit Facility AgreementAgreement evidencing the terms and conditions of a Credit Facility. and other Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. are due within 10 days;
- Fannie Mae in writing at:
- facilitate a meeting between the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , Fannie Mae, and BorrowerBorrowerPerson who is the obligor per the Note. ;
- per the Master Credit Facility AgreementMaster Credit Facility AgreementAgreement evidencing the terms and conditions of a Credit Facility.
, the other Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan.
, and the GuideGuideMultifamily Selling and Servicing Guide controlling all Lender and Servicer requirements unless a Lender Contract specifies otherwise.
:
- conduct the re-underwriting assessment; and
- remit the underwriting assessment results and supporting documents in the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. per Part V, Chapter 4: Asset Management: Loan Document Administration, Section 416.10F: Re-Underwriting Assessment Timing;
- retain copies of:
- the re-underwriting assessment; and
- all supporting documents in the Servicing FileServicing FileYour file for each Mortgage Loan serviced. ; and
- submit a Non-Monetary Default Borrower Request in the MAMPMAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. if the BorrowerBorrowerPerson who is the obligor per the Note. fails to provide any required documents.