417.02

Decisions and Actions Delegated and Not Delegated

Decisions and actions covered by the Delegated Transaction Form ( Form 4636 series ) are delegated to the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. as set forth in the applicable  Form 4636 series or the Guide GuideMultifamily Selling and Servicing Guide controlling all Lender and Servicer requirements unless a Lender Contract specifies otherwise. .  For these requests, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must submit the completed applicable  Form 4636 series through the MAMP MAMPMultifamily Asset Management Portal used to submit Property inspections, operating statements, requested modifications, asset management reports, and data corrections for loan or property attributes. .  Decisions and actions for Seniors Housing Seniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. 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 regarding the following are not delegated to the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. :

  • Seniors Housing Seniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. expansions/conversions, including constructing additional units, substantial alterations, Seniors Housing Major Renovations Seniors Housing Major RenovationsPhysical improvement at a Seniors Housing Property costing more than $20,000/unit, or $3 million in total project costs. , and Seniors Housing Minor Renovations Seniors Housing Minor RenovationsPhysical improvement at a Seniors Housing Property that is not a Seniors Housing Major Renovation, but which increases the number of units, or converts one type of unit (e.g., Independent Living, Assisted Living, or Alzheimer’s/Dementia Care) into another, unless expressly permitted by the Loan… ;
  • changes in the Seniors Housing Seniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. operator;
  • changes in 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). management or management agreements;
  • changes in licensing (Note:  All licensing changes require an Opinion of Borrower’s Counsel on Origination of Mortgage Loan (Seniors Housing Licensing) ( Form 6450.SRS ) confirming that all licensing requirements have been met);
  • Seniors Housing Seniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. operator Leases LeasesWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. ; and
  • master leases.

 If the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. has any questions regarding the need for Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! approval, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must contact Multifamily Seniors Housing Property Asset Management Multifamily Seniors Housing Property Asset ManagementTeam that can be contacted at [email protected]. before proceeding.