When to Perform a PCA

Requirements

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. , you must:

• complete a PCA PCAAssessment of the Property's physical condition and historical operation. for each 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). unless it is a Supplemental Mortgage Loan Supplemental Mortgage LoanMortgage Loan purchased by Fannie Mae that is subordinated to, and has a Mortgage Loan Origination Date after, the Senior Mortgage Loan that is also owned by Fannie Mae. that complies with  Part III, Chapter 13: Supplemental Mortgage Loans, Section 1302.05: Streamlined Underwriting ; and
• ensure all:
  • Potential Red Flags for Mortgage Fraud and Other Suspicious Activity  were considered; and
  • unresolved red flags were reported per  Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 310: Compliance .