New Loan Test

Requirements

For a Tier TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 2 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. , if the Senior Mortgage Loan Senior Mortgage LoanSenior loan purchased by Fannie Mae. Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. is 5 years or less after the 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. Origination Date Origination DateDate you fund a Mortgage Loan to the Borrower. , you must perform a New Loan Test to confirm the combined UPB UPBUnpaid Principal Balance of all Pre-Existing Mortgage Loans Pre-Existing Mortgage LoansMultifamily residential real estate loan secured by Liens against the Property having higher priority than the Lien securing the Subordinate Loan purchased by Fannie Mae. plus the 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. does not exceed the maximum loan amount for a new fixed rate, first Lien LienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. , cash-out 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 .