1501.01A

Eligible Mortgage Loans

Requirements

Mortgage Loans Mortgage LoansMortgage 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 with Mezzanine Financing Mezzanine FinancingSubordinate debt financing provided to a direct or indirect owner of a Borrower that is secured by a pledge of the direct or indirect equity interest in the Borrower held by the owner, and not by a Lien on the Property. must:

  • be newly originated;
  • have an original principal balance of at least
    • $10 million, for DLA Mezzanine Financing DLA Mezzanine FinancingMezzanine Financing provided by an approved mezzanine lending affiliate of a DUS Lender. , or
    • $50 million, for non-DLA Mezzanine Financing DLA Mezzanine FinancingMezzanine Financing provided by an approved mezzanine lending affiliate of a DUS Lender. ;
  • be fixed rate; and
  • be flagged for MBS MBSMortgage-Backed Security additional disclosure per  Form 4098 .