Multifamily Housing Bond Credit Enhancement Program Document Checklist
Full Underwriting Package, Standard Delivery
(Revised 4/2006)
(Please see referenced Multifamily Seller/Servicer Guide sections for a full description of each item listed)
- Guide Section
- Description
- 28.6(a)
- Application fee
- 28.6(b)
- Copy of written Quote, if applicable, or date and terms of the verbal Quote the Borrower has selected
- 28.6(c)
- Seller's certification, including
- Seller's compliance with representations and warranties
- Seller's determination that neither the Borrower nor any Borrower Principal is named a "specially designated national and blocked person" (SDN) on the current U.S. Treasury Department Office of Foreign Assets Control (OFAC) list
- 28.6(d)
- 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 if there is an existing mortgage on the Property; proposed sources and uses of funds; tenancy characteristics; and cash equity at risk] [See Section 28.3(h)]
- 28.6(e)
- Borrower Certificate (Form 1115) for each Borrower and Borrower Principal
- 28.6(f)
- Certified financial statements of Borrower and Borrower Principals [See Section 28.3(f)]
- 28.6(g)
- Credit reports [See Section 28.3(i)]
- 28.6(h)
- Real Estate Schedule (Form 1116) [See Section 28.3(l)]
- 28.6(i)
- Wood-boring insect inspection report, if applicable
- 28.6(j)
- Certified rent schedule [See Section 28.3(j)], dated within 30 days of package submission
- 28.6(k)
- Certified historical property financial statements for the three preceding completed fiscal years [See Section 28.3(f)]
- 28.6(l)
- Certified current property financial statements for the current year-to-date fiscal year (dated within 30 days of package submission) [See Section 28.3(f)]
- 28.6(m)
- Seller's pro forma property financial statements, updated [See Section 28.3(f)]
- 28.6(n)
- Inspection and rent verification schedule
- 28.6(o)
- Flood zone determination (FZD) meeting the requirements of Section 31.9
- 28.6(p)
- Appraisal (See Chapter 12)
- 28.6(q)
- Environmental report (See Chapter 13)
- 28.6(r)
- Engineering report or engineering survey (See Chapter 14)
- 28.6(s)
- Aerial photographs, labeled with an arrow indicating North and labeled to indicate points of interest
- 28.6(t)
- Proof of zoning; damage restoration statement (See Section 8.5)
- 28.6(u)
- Building code documentation
- 28.6(v)
- Access easement and amenity and/or recreational facility easements, if applicable, all with analysis and recommendations (See Sections 8.8 and 8.9)
- 28.6(w)
- Laundry lease, if applicable [See Section 8.11(b)]
- 28.6(x)
- Commercial leases, if applicable [See Sections 8.2(b) and 8.11(a)]
- 28.6(y)
- Management plan or Management agreement
- 28.6(z)
- Ground lease information, if applicable (See Chapter 30)
- 28.6(aa)
- Registration of rental units, if applicable
- 28.6(ab)
- Personal property exclusion list, if applicable
- 28.6(ac)
- Seller's mortgage loan application with Borrower, including authorization to use property and transaction information
- 28.6(ad)
- Borrower's and/or guarantor's organizational documents (See Section 9.7)
- 28.6(ae)
- Summary of interest rate cap
- 28.6(af)
- List of bond transaction parties
- 28.6(ag)
- Proposed transaction schedule
- 28.6(ah)
- Verification of Collections (Form 1144), with the “last full month” dated within 30 days of package submission
- 28.6(ai)
- Evidence of insurance, Seller/Servicer Certification of Insurance Coverage ( Form 1133) and amount of required insurance premium
- 28.6(aj)
- 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.)
- 28.6(ak)
- Real estate tax bill (most recent from Property's local governing body)
- 28.6(al)
- Purchase agreement and purchase agreement analysis [See Section 28.3(n)]
- 28.6(am)
- Calculation of prepayment premium (updated), if applicable for a refinance
- 28.6(an)
- Certified breakdown of construction costs, if Borrower built the Property and the Property is less than one year old
- 28.6(ao)
- Preliminary legal issues memorandum (See Section 6.4)
- 28.6(ap)
- Additional documentation: