Supplemental Mortgage Product Document Checklist
for a Split Mortgage
Full Underwriting Package
Early Rate-Lock Delivery Option
(Revised 10/2007)
(Please see referenced Multifamily Seller/Servicer
Guide sections for a full description of each item listed)
NOTE:
The checklist below is for a split Mortgage
Guide
Section
Description
17.18
Any item included in the preliminary underwriting package for
which there is a material change
17.18
Evidence of insurance, as required in Section 17.14(b), updated
17.18
Certified rent schedule, as required in Section 17.14(d),
updated (dated within 30 days of package submission) [See Section 17.2(i)]
17.18
Certified historical property financial statements for the preceding three
completed fiscal years, as required in Section 17.14(e), updated
[See Section 17.2(f)]
17.18
Certified current property financial statements for the current fiscal year-to-date,
as required in Section 17.14(f), dated within 30 days of package submission
[See Section 17.2(f)]
17.18
Seller's pro forma property financial statements, as required in
Section 17.14(g), updated [See Section 17.2(f)]
17.18(a)
Seller's
certification regarding representations and warranties
17.18(b)
Mortgage transaction narrative analysis (updated from
preliminary, as necessary) [Must include characteristics of the proposed
Mortgage (including risk factors and Seller's recommendation) descriptions
of the Property, the Borrower and the property manager; Property's financial
analysis; evaluation of balloon risk; surrounding property uses and condition
with neighboring facilities; market analysis; history of the Borrower's equity;
review of third-party reports; loan history; sources and uses of funds; tenancy
characteristics; and cash equity at risk] [See Section 17.2(h)]
17.18(c)
Certified financial statements of Borrower and
Borrower Principals [See Section 17.2(f)]
17.18(d)
Credit reports [See Section 17.2(j)]
17.18(e)
Real Estate Schedule (Form 1116) [See Section 17.2(k)]
17.18(f)
Wood-boring insect inspection report, if applicable
17.18(g)
Inspection
and rent verification schedule
17.18(hi)
Flood zone determination (FZD) meeting the
requirements of Section 31.9
17.18(i)
Appraisal (See Chapter 12)
17.18(j)
Environmental report (See Chapter 13)
17.18(k)
Engineering report or engineering survey (See Chapter 14)
17.18(l)
Proof of
zoning; damage restoration statement (See Section 8.5)
17.18(m)
Building code documentation
17.18(n)
Access easement and amenity and/or recreational
facility easements, both with analysis
and recommendations, if applicable (See Sections 8.8 and 8.9)
17.18(o)
Laundry
lease, if applicable [See Section 8.11(b)]
17.18(p)
Commercial leases, if applicable [See Sections 8.2(b) and 8.11(a)]
17.18(q)
Management plan or management agreement
17.18(r)
Registration
of rental units, if applicable
17.18(s)
Personal
property exclusion list, if applicable
17.18(t)
Borrower's
and/or guarantor's organizational documents (See Section 9.7)
17.18(u)
Verification of Collections (Form 1144) ,
with the "last full month" dated within 30 days of package submission
17.18(v)
Moisture Management Plan [See Section 8.3(a)], if available (If the Moisture Management Plan is not yet available, it must be submitted with the final delivery package.)
17.18(w)
Real estate tax bill (most recent from Property's local governing body)
17.18(x)
Purchase agreement and purchase agreement analysis [See Section 17.2(m)]
17.18(y)
Calculation of prepayment premium (updated), if applicable
17.18(z)
Certified breakdown of construction costs, if Borrower built the
Property and the Property is less than one year old
