802.04
Other Considerations
Guidance
A Cooperative CooperativeMultifamily residential property owned by a Cooperative Organization. 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 does not have to comply with the following:
- identification of a 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 Principal PrincipalPerson who owns or controls, in the aggregate, directly or indirectly (together with that Person's Immediate Family Members, if an individual), specified interests in the Borrower per Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 303: Key Principals, Principals,… and the applicable related analysis and obligations per Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals , or Part III, Chapter 9: Small Mortgage Loans ;
- Ground Lease Rents per Part II, Chapter 1: Attributes and Characteristics, Section 106.02: Ground Lease Rents
- Minimum Occupancy per Part II, Chapter 1: Attributes and Characteristics, Section 107: Minimum Occupancy ;
- Occupancy per Part III, Chapter 9: Small Mortgage Loans, Section 903: Occupancy ; and
- Property Management per Part III, Chapter 9: Small Mortgage Loans, Section 906: Property Management .