Preliminary 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
17.8(a)
Mortgage
transaction narrative analysis [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; loan history if there is an existing Mortgage; proposed sources and uses of funds; tenancy characteristics; and cash equity at risk] [See Section 17.2(h)]
17.8(b)
Certified rent schedule, dated within 30 days of package submission [See Section 17.2(i)]
17.8(e)
Seller’s pro forma property
financial statements [See Section 17.2(f)]
17.8(h)
Cooperative analysis,
if applicable [See Section 17.2(g)]
17.8(i)
Request for approval
of shared facilities, if applicable, including analysis and recommendation (See Section 8.9)
18.6(e)
Historical property financial statements for the Property for the preceding three
completed fiscal years
18.6(f)
Other Assessment [If the Seller submitted an Annual
Loan Management and Physical Inspection Assessment (ALI) within 90 days prior to the submission of the preliminary
underwriting package, the Seller may submit a copy of that ALI in lieu of an Other Assessment.]
18.6(g)
Borrower
Certification of Property Physical and Environmental Condition (Form 1117)
