Founder/Broker | JVM Lending The information in this article can be impacted by many unique variables. JVM Lending is a division of Vellum Mortgage, Inc. | NMLS 1657323 | Licensed in CA, TX, AZ, FL, MA, TN | For licensing information go to www.nmlsconsumeraccess.org | Licensed under the CRMLA by the California Department of Business Oversight | Equal Housing Opportunity, JVM Lending, This is often an issue. You must keep using the property in the same fashion, but you aren't required to add additional uses. .blog-banner-shortcode ul li:first-child .banner-blog-shortcode-button } His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. VLnl97]EZM4E^cN8]yi"U {Z+"U0 @media (max-width: 600px) { Please take a few minutes to watch a short training video. Fannie Mae only purchases or securitizes mortgage loans on properties if the improvements constitute a legal conforminguse of the land. cannot be rebuilt to the pre-casualty condition per current zoning requirements and building codes, you must: If you order a Zoning Report for the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the Oct. 24, 2017), discusses the granting of authority to rebuild a house that was non-compliant with current zoning laws, after it was destroyed by casualty.. Jean Marie Jones and her husband owned 3505 Beach Road in Middle River, Baltimore County. endstream endobj 139 0 obj <>stream Be ok with walking away from the deal, likely lose my earnest money (right? For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. The lenders are refusing to allow an FHA residential loan for the property. The appraised value must reflect the entire 40acre parcel. A), 7/11/17) 17.05.050 Elimination of Legal Nonconforming Uses and Structures. } A nonconforming use is generally defined as a land use or structure that was legal when established but does not conform to the standards of the current zoning ordinance. Apparently this is because the property was a single family home that was converted to 3 condo units. The house on the property was substantially damaged by Hurricane . Improvements, and existing non conforming lot the intention is to tear down and rebuild a new single family residence with a 2 car garage the proposed new home } 1 0 obj This topic contains information on reviewing the Site section of the appraisal report form, including: The property site should be of a size, shape, and topography that is generally conforming and acceptable in the market area. .blog-banner-shortcode ul li However, the lender is required to indemnify Fannie Mae (as described in A2-1-03, Indemnification for Losses) against all losses incurred by Fannie Mae as a result of the physical condition of the street or in order to establish and/or retain access to the street. 2011 blog post titled, Can I Get An FHA Loan For A Commercial Property?. top: 0; font-size: 18px; To obtain a Rebuild Letter, download the form below. } -webkit-transform: translateX(300px) skewX(-15deg); .blog-banner-shortcode .new-buttons { If a property constitutes a legal, non-conforming use of the land and is a one- to four-unit property or a unit in a . margin: 0 9px; The concept provides that, simply put, zoning by-laws cannot apply retroactively. Our team is available 7 days a week and guarantees 60-minute response times to inquiries via phone at 855-855-4491 or via email at[emailprotected]. Ann. $494: see above: 2 weeks Comprehensive Research Letter. There is no way to expedite it. top: 0; 166 0 obj <>/Filter/FlateDecode/ID[]/Index[135 59]/Info 134 0 R/Length 105/Prev 189827/Root 136 0 R/Size 194/Type/XRef/W[1 2 1]>>stream Credit Monitoring For First-Time Home Buyers, FHA One-Time Close Construction Loan Limits Are Higher In 2023. Click "Download" to save the changes. .blog-banner-shortcode ul A hard refresh will clear the browsers cache for a specific page and force the most recent $718: Email application to [email protected]: 2 weeks Legal Non-Conforming. (or attach a legal description i.e. Nonconformities are governed by section 21.13 of the Anchorage municipal code. If the existing Property does not comply with all of the current zoning ordinances but is accepted by the local zoning authority, the Appraiser must report the Property as Legal Non-Conforming and provide a brief explanation. transition: 0.7s; If you have questions about the purchase process, you can also view ourPurchase Process Overview here. This is an issue under the zoning by-laws. It's going to take up to 30 business days to obtain this letter from the city. 17-10 5 (Exh. } .blog-banner-shortcode .new-buttons a.new-btn:hover { Rates, terms, programs and underwriting policies subject to change without notice. .blog-banner-shortcode .new-buttons a.new-btn:hover:after { aqRu"24nY+w^Vkj]e2 2t8mFi11 -ms-flex-pack: center; Mortgage debt obligation evidenced, or when made will be evidenced, by The Department will send you a letter stating that a legal non-conforming use may be rebuilt after a natural disaster if all the applica-ble permits are secured. &)N;.=*3;;/W7:ODI_|z, JDH QDBi"fNDY_4BqT@2#qkU,h)L4{, ,@Uf3fzk"d uV*"XY/L,34M3b*pzYr&K5 Since its formation in 2006, JVM Lending has been committed to reinventing the mortgage lending model in order to provide outstanding service, low rates, and some of the fastest closing times in the industry. They often exist as unique structures or landmarks within neighbourhoods. display: flex; 40:55D-68, the property owner did not have an absolut e right to rebuild a nonconforming stru cture partially destroyed by fire and endstream endobj 136 0 obj <>/Metadata 17 0 R/Names 168 0 R/Pages 133 0 R/StructTreeRoot 39 0 R/Type/Catalog>> endobj 137 0 obj <>stream He can be reached at our toll-free number (855) 376-5291 or by email at [email protected]. We can get a burn letter or a letter from the zoning authority that states that the property can be rebuilt in its current use. -webkit-transition: 0.7s; 1 0 obj In the case of a non-conforming building type, i.e. Programs shown may not include all options or pricing structures. These are often referred to as grandfathered in or grandparented in. { -o-transition: 0.7s; However, unless proof is provided, the letter written by the Department of Planning, Building and Code Enforcement will not you may do so by attending the meeting or by . <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Applications require a $150 filing fee. The subject property should front on a publicly dedicated and maintained street that meets community standards and is generally accepted by area residents. Invest in real estate and never run out of money! } Usually the owner loses the right to rebuild if 50 percent or more of the structure is damaged. } .blog-banner-shortcode .banner-blog-shortcode-button:hover Ask Poli features exclusive Q&As and moreplus official Selling & Servicing Guide content. You cannot stop the use you were making of the property and then start it again later. If non-conformance would result in a loss of 20% or more of the Property's unit count, confirm the Improvements can be reconstructed per current zoning requirements and building codes to a level that would support a minimum 1.00 amortizing DSCR in case of They are not retroactive. Guide Update 21-03: Legal Non-Conforming Use Effective: 03/29/21 Retired: 04/15/22 Summary of Changes HIGHLIGHTS Effective for Mortgage Loans Committed on or after March 29, 2021, the legal non-conforming use requirements were clarified. This letter would state the entitlement of the property owner to rebuild the property to its original footprint. %%EOF Enter the associated parcel/tax schedule number or change the search type by using the drop menu. line-height: 23px; Track the progress and view documents associated with developments in our Land Development Review Search (LDRS) system. "If a nonconforming property owner may apply at any time, without limit, for a building permit, the first clause of the subdivision, which states that a nonconformity ceases if it is discontinued for a period of more than one year, has no meaning." display: block; endobj .blog-banner-shortcode ul li:first-child Lender Letter, Freddie Mac and Fannie Mae have jointly developed the following documents that include modified language to be used with desktop appraisal reports and exterior-only appraisal reports: Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for . endobj 193 0 obj <>stream Credit guidelines are set by the lender, typically with a 620 minimum credit score requirement. However, a change in ownership or occupancy shall not, by itself, constitute a change of use.. } If there is market resistance to an area because of environmental hazards or any other conditions that affect well, septic, or public water facilities, the appraisal must address the effect of the hazards on the value and marketability of the subject property (see B4-1.4-08, Environmental Hazards Appraisal Requirements). Home purchase margin-left: 0 !important; "@Jp s9cKQ C %WAb :$xL6&FUFgy` If a use of land, a building, or a structure was legal on Monday, a zoning by-law passed that day cannot render it illegal by Tuesday. feel free to email. State law, zoning requirements, building code, and lender standards would all have a potential say in whether such a loan was approved or denied. Over time, it has evolved as a convenient way to refer to the legal concept of protecting lawfully pre-existing nonconforming uses of land from later-enacted prohibitions. This requirement appliesto all property types. more attainable than ever. If a nonconforming use structure is destroyed or partially destroyed by fire or similar occurrences, zoning ordinances generally provide that if it is destroyed beyond a certain percentage, it cannot be rebuilt. A nonconforming use is created when a zoning provision is adopted or amended to prohibit a particular use that lawfully existed prior to the enactment or amendment. Visit Selling and Servicing Guide Communications and Forms. fee simple or Leasehold interest, These legal nonconforming uses are allowed to continue. This property generated a lot of interest - they had another party make an offer and they had 4 people come back for second visits within the one week it was on the market, so I'm sure they're thinking they could probably find another buyer that could get the deal done before us. Our blog is for general educational and informational purposes only, and should not be construed as advertising or relied upon as legal advice. 51-00 Purpose of Regulations Governing Non-Conforming Uses and Non-Complying Buildings. A building or structure nonconforming due to parking standards may be occupied by any use permitted in the zone in which it is located subject to the limitations and conditions governing such use as specified in the zone; provided, that: 1. Lenders will not lend unless they know their collateral can be rebuilt if a fire (or another disaster) occurs. What Credit Score Is Needed For An FHA Mortgage? Take the next step towards finding your best mortgage. For improvements to represent the highest and best use of a site, they must be legally permitted, financially feasible, and physically possible, and must provide more profit than any other use of the site would generate. All loans subject to underwriting approval. They will, however, lend against non-conforming properties (properties that are not typical for the area), as long as: JVM Lending prides itself on having some of the lowest rates available and our unique No Loan Officer Model. You can view our daily quoted rates and scenarios postedhere. } 3 0 obj The presence of sidewalks, curbs and gutters, street lights, and alleys depends on local custom. <> -webkit-box-orient: vertical; . #top #wrap_all .blog-banner-shortcode #blog-banner-shortcode-subheading Execution, Learning The non-residential use of the Property must be legally permitted and conform to current zoning requirements.. I have a legal non conforming property which,in theevent of a fire, they need to knowI can rebuild as is. background-color: #fe952c; { display: flex; Off-site improvements include, but are not limited to, streets, alleys, sidewalks, curbs and gutters, and street lights. x\}o- Eminent domain B. Inverse condemnation C. Police powers D. Escheat C. Police powers -webkit-box-pack: center; { flex-direction: column; City Hall, 121 N. LaSalle St.Room 1000Chicago, Illinois 60602Hours: 8:30 a.m. to 5 p.m. Zoning MapZoning CodeJoin DPD's Email ListRecent NewsInteractive TIF PortalCity-Owned Land Inventory, We Will ChicagoINVEST South/WestNeighborhood Opportunity FundIndustrial Corridor ReviewChicago PACELarge Lots, An official website of the City of Chicago, City Council Office of Financial Analysis, Community Commission for Public Safety & Accountability, Local IndustrialRetention Initiative (LIRI), Feb 17, 2023 - City Of Chicago, 548 Enterprise, And Related Midwest Break Ground On Industrial Site And Innovation Center In North Lawndale, Feb 16, 2023 - We Will Chicago Planning Process Culminates With Adoption By The Chicago Plan Commission, Feb 10, 2023 - Mayor Lightfoot Announces Twelve Recipients Of $27 Million In Community Development Grants, Feb 1, 2023 - City Assistance to Create West Ridge Home for American Blues Theater, Feb 1, 2023 - TIF Funding Proposed for German American Cultural Center. Hoa Building Variance Approval Letter Pdf as you such as. How are FHA home loans affected by zoning laws? -ms-transform: translateX(-100px) skewX(-15deg); For additional information concerning Fannie Maes policies on flood insurance, see B7-3-06, Flood Insurance Requirements for All Property Types. Fannie Mae will only purchase or securitize a mortgage that represents the highest and best use of the site as improved. Our team is available 7 days a week and guarantees 60-minute response times to inquiries via phone at 855-855-4491 or via email at [email protected]. cursor: pointer; Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The appraiser must comment on any adverse conditions and address their effect on the value and marketability of the subject property. In this book, author and investor Center, Apps } The appraiser must comment if the site has adverse conditions or if there is market resistance to a property because the site is not compatible with the neighborhood or the requirements of the competitive market, and assess the effect, if any, on the value and marketability of the property. p_oYN:1J(iX7S=y==bT NN^iTOI$Bc$mcTGI#jv Zq{_\Upi^!tGF'"Q$;S`wP$vF@Sa%D5 0a^]iot|H*ZG/`y!T5% BVZGL{fS,l&twuQB+7(4TK`we]]0IH*lyi*dbD>FoBEDn*QrLe. To obtain a Rebuild Letter, download the form below. You can contact JVM Lending's team if you have any questions about property types, mortgage interest rates, or getting pre-approved for a home loan. Accessory Dwelling Units: emphasizing Highest and Best Use to determine property type of classification. This is Chicago, houses, factories, commercial spaces, etc are converted to condos all the time. Because amenities, easements, and encroachments may either detract from or enhance the marketability of a site, the appraiser must reflect them in the analysis and evaluation. Legal Non-conforming Use Explained By Brian Madigan LL.B. HR0!M&p:"Kwv~%Q That is the crux of the issue-for FHA home loans, the FHA rule book is not only set of rules which apply to your transaction. 4 0 obj { Fannie Mae only purchases or securitizes mortgage loans on properties if the improvements constitute a legal conforming use of the land. For information regarding accessory units that comply or do not comply with zoning, see B4-1.3-05, Improvements Section of the Appraisal Report. { 1850 Mt Diablo Blvd, Suite 140, Both our New Hampshire Constitution and land use laws protect . Rates Climbed 1% in February! This Is SHOCKING! The theory of legal non-conforming uses and legal non-complying buildings and structures is that they will eventually die out and fade away. & Technology, News & Lender's counsel is also routinely required to provide an opinion letter regarding the legal status of the Borrower, any Manager or General Partner, and any guarantor and the . This is not an offer to extend credit or a commitment to lend. Improvements, and 2. real estate investing strategy that makes financial freedom FHAnewsblog.com assumes no responsibility for errors or omissions in the contents on the Service. HUD 4000.1 adds: The Appraiser must determine if current use complies with zoning ordinances. :new_smile-l: Since I always put a copy of the zoning regulation in the report for non-conforming properties, I rarely get a request for a rebuild letter. personal property (per the Uniform Commercial Code). margin: 0; Any pole sign which loses its legal non-conforming status shall be removed by the later of January 1, 2015, or six months after such change of status. We've been listening to your feedback and are excited to share the newest version of the Single-Family Seller/Servicer Guide. That said, anytime you encounter older FHA loan information that references HUD 4155.1 or other rulebooks, its best to double check your information with the current requirements as listed in HUD 4000.1. .blog-banner-shortcode .new-buttons { Fannie Mae will not purchase or securitize a mortgage secured by a property that is subject to certain land-use regulations,such as coastal tideland or wetland laws, that create setback lines or other provisions that prevent the reconstruction ormaintenance of the property improvements if they are damaged or destroyed. <>/Metadata 69 0 R/ViewerPreferences 70 0 R>> We often get asked about non-conforming properties, such as residential properties in areas that are zoned commercial, or multiple units on one lot with ambiguous zoning. Do I have any other options? Any building or structure set up, erected, built or moved and any use of property contrary to the provisions of this title shall be and the same is hereby declared to be unlawful and a public nuisance. margin-top: 0; A Rebuild Letter states that an existing structure (conforming or nonconforming) may or may not be rebuilt in the event that the structure is partially or fully damaged or destroyed. gap: 12px; dc. Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool. The Department of Planning and Development issues Rebuild Letters for properties that are located within the City of Chicago. Copyright JVM Lending 2023. ]_h_'=S(; 40`/!iXL:|MX]:oIs <> The appraiser must also indicate the specific FEMA flood zone and the map number and its effective date. I reached out to the zoning department but not getting anywhere with them. B. . height: 100%; display: flex; .blog-banner-shortcode ul li Buildings, structures, improvements, and alterations, including the multifamily housing dwellings, now constructed or hereafter constructed or placed on the land upon which the Property is located, together with all fixtures (as defined in the Uniform Commercial Code). content: ""; align-items: center; Fannie Mae customers! The concept provides that, simply put, zoning by-laws cannot apply retroactively. display: flex; , you should consider: Joint and Several Borrowers with Multiple Properties, Subordination, Non-Disturbance and Attornment, Tenant Estoppel Certificate; Lease Modification, Acceptable Renewable Energy Generation Systems, Underwritten Net Cash Flow (Underwritten NCF), Property Previously Secured Bond Financing, Exception for Taxes, Assessments, or Other Lienable Items, Environmental Protection Lien Endorsement, Uniform Commercial Code (UCC) Financing Statements, Creating and Perfecting the Security Interest, General Insurance Applies to All Policies, Blanket and Other Policies Covering Multiple Properties, Business Income (including Rental Value) Insurance, Boiler and Machinery / Equipment / Mechanical Breakdown Insurance, Risk Retention Groups and Captive Insurance, Directors and Officers Liability Insurance, HPB Module, HPB Report, and Technical Solar Report Scoring, HPB Module, HPB Report, and Technical Solar Report Approval, Dependency and Medicaid Transition Reserve, Management, Operations, and Regulatory Compliance, Collateral; Tenant-Occupied and Affiliate-Owned Homes, Public Roadways, Private Interior Roadways, and Drives, Eligible Characteristics and Underwriting, Ineligible Characteristics and Underwriting, Affordable Regulatory Agreement Restrictions, Lien Priority and Title Insurance Policy, Additional Underwriting and Loan Documents, Properties with Both HAP Contracts and LIHTC Units, Transactions Funded with Tax-Exempt Bond Proceeds, Fannie Mae Credit-Enhanced Tax-Exempt Bond Issuance, Borrowers, Key Principals, Guarantors, and Principals, Lender FHA Risk Sharing Reserve and Loss Sharing Modifications, Cooperative Market Rental Basis NCF (Underwritten NCF), Cooperative Market Rental Basis DSCR (Underwritten DSCR), Small Mortgage Loan Underwritten NCF (Underwritten NCF), Site Inspection by Lender or Other Third Party, Prepayment Option 1 Declining Prepayment Premium Schedule, Prepayment Option 2 - 1% Prepayment Premium Schedule, Including the Cap Cost Factor in the Variable Underwriting Rate, Interest Rate Cap Contract Documentation and Delivery, Borrower, Guarantor, Key Principals, and Principals, Interest Rate Determination and Rate Lock, UCC Continuations, Amendments, and Terminations, Releasing/Reducing Letters of Credit or Other Collateral, Monthly Securitized Mortgage Loan Security Balance Reporting, Same Month Pooling Security Balance for First Reporting Cycle, Security Balances Due by Second Business Day, Monthly MBS Mortgage Loan Reconciliations - Pool-to-Security Balance Reconciliations (Not Applicable to PFP MBS), Required Annual Adjustment to Correct Principal Balance vs. Security Balance Difference, Pool-to-Security Reconciliation Certification, Adjustable Rate Mortgage Loan Interest Rate Changes and Required Monthly Payments, Monthly Reporting for ARM Loan Payment/Rate Changes, Delinquency Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Delinquency Advances on a Credit Enhancement Mortgage Loan, Servicing Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Servicing Advances on a Credit Enhancement Mortgage Loan, Duration of Payment of Delinquency Advances or Servicing Advances, Reimbursement for Delinquency and Servicing Advances, Repayment of Servicing Advances from Borrower, No Capitalization of Servicing Advances for Securitized Mortgage Loans, Monthly P&I Remittance Due Dates for Cash and MBS Transactions, Additional Requirements for Monthly Remittance for Security Transactions, Securitized Mortgage Loans Remitting Fees to Fannie Mae, Guaranty Fee Due on 7th Calendar Day of Month, Same Month Pooling Interest and Guaranty Fee Remittance for First Reporting Cycle, Notification to Fannie Mae if Unable to Have Funds Available on any Remittance Date, Review of Applicable Loan Documents Required, Notification of Prepayment; Timing of Prepayment, Notice and Timing Consistent with Loan Documents, Borrower Notice Must Contain Date of Intended Prepayment and Comply with Notice Requirements of the Loan Documents, Loan Document Requirements for Payoff and Lockout Dates, Notice to Fannie Mae of Proposed Payoff; Use of Fannie Mae Payoff Calculator, Timing of Confirmation of the Full Prepayment Payoff Amount, Full Prepayment for Cash Transactions and PFP MBS, Confirming the Full Prepayment Payoff Amount, Full Prepayment for Securitized Transactions (Not Applicable to PFP MBS), Fannie Mae Approval Required for Partial Prepayments, Prepayment Premium Due on Partial Prepayment, Reporting and Remitting Partial Prepayments When Not Permitted in Loan Documents, Reporting and Remitting Partial Prepayments When Permitted in Loan Documents, Reporting and Remitting Partial Prepayments, Yield Maintenance Prepayment Premiums Prepayment Occurs Before the Yield Maintenance Period End Date, Calculation of Investors Share of Total Prepayment Premium for a Securitized Mortgage Loan, Calculation of Fannie Maes Share of Total Prepayment Premium, Calculation of Servicers Share of Total Prepayment Premium, Yield Maintenance Prepayment Premiums Prepayment Occurs On or After the Yield Maintenance Period End Date, Prepayment On or After Yield Maintenance Period End Date, Fixed Rate Mortgage Loans with Graduated Prepayment Premiums, Prepayment Premiums for ARM Loans and Structured ARM Loans, Prepayment Premium Waivers; Servicers Share of Prepayment Premium, Servicer Notification of Payoff Amount to Borrower, Calculating and Obtaining Confirmation of Payoff Amount, Fannie Mae Will Not Confirm Nor Is Responsible for Amounts Owing to Servicer, Fannie Mae Confirmation of Full Payoff Amount, No Quote to Borrower Until Fannie Mae Confirmation, Reporting the Payoff and Remitting the Payoff Funds, Reporting Full Payoff Amount Through the eServicing System Due By 2nd Business Day of Month, Post Payoff Document Retention Requirements, Monthly Bond Credit Enhancement Reporting, Monthly Remittances of Scheduled Payments to Bond Trustee, Replenishment of Withdrawals from the PRF, Collection and Remittance of Borrower Reimbursement Obligations for Fannie Mae Advances, Notice and Collection of Other Fees and Expenses, Bond Redemption Premiums Payable to Bondholders, Termination Fee or Prepayment Premium Payable to Fannie Mae, Termination When No Prepayment Occurs; Weekly Variable Rate Transactions, Mortgage Loan Documents Must Permit Defeasance, Notifying the Internal Revenue Service about Abandonments or Acquisitions (IRS Form 1099-A), Notifying the Internal Revenue Service about Cancellations of Indebtedness (IRS Form 1099-C), Coordination with Reporting Abandonments or Acquisitions, Borrower's T&I Impositions and Custodial Accounts, Monitoring Compliance with Loan Documents, Servicer Certification When Fannie Mae Approval Is Not Required, Servicer Certification When Fannie Mae Approval Is Required, Submitting the Request for Subordinate Financing, Funds as Additional Security for Mortgage Loan, Waiver or Modification of Terms of Collateral Agreement, Achievement Agreement or Other Agreement for Additional Collateral, Draws on Letters of Credit or Application of Other Collateral, Releasing Additional Escrows for Principal and Interest, Taxes and Insurance, and Replacement Reserves, Completion/Repair Loan Document Amendments, Green Rewards Efficiency Measure Verification, Replacement Reserve Loan Document Amendments, Modifications to Replacement Reserve Deposits, When Replacement Reserve Funding Was Partially or Fully Waived, Items Eligible for Funding from the Replacement Reserve, Items Not Eligible for Funding from the Replacement Reserve, Return of Replacement Reserve Funds to Borrower, Alternative Funding of Replacement Reserves for Portfolio Mortgage Loans, Replacement Interest Rate Hedge and Notification, Replacement Interest Rate Hedge Documents and Follow Up, No Financing for Property and Liability Insurance Premiums, Flood Map Changes; Obtaining Flood Insurance, Servicers Administrative Costs and Expenses, Required Casualty Loss Property Inspection, Documentation for Required Casualty Loss Property Inspections, Endorsement of Insurance Loss Draft or Check When Payable to Fannie Mae, Endorsement of Insurance Loss Draft or Check When Not Payable to Fannie Mae, Insurance Loss Draft or Check Not Payable to Either Fannie Mae or Servicer, Borrowers Failure to Diligently Pursue Repair, Decisions Delegated by the Delegated Transaction Form 4636 series, Supplemental Mortgage Loans Not Permitted, Decisions and Actions Delegated and Not Delegated, Seniors Housing Expansion/Conversion Requests, Request Changes in Unit Count/Mix in the MAMP, Bond Transactions and Credit Enhancement Mortgage Loans, Compliance Issues Relative to Bond Credit Enhancement Transactions, Monitoring Compliance; Notification of Noncompliance, Default Notice for Failure to Comply with the Bond Documents, Multifamily Affordable Housing (MAH) Properties, HAP Contract Approval and Releasing Restabilization Reserve, Quarterly Financial Analysis of Operations, Borrower Fails to Provide Guarantor Financial Reports, Lender Tenders for Minor or Immaterial Defaults, Definition of Non-Performing Mortgage Loan, Partial Payments by Borrower Do Not Change Date of Default, Timing for Imposition of Late Charges and Default Interest, No Deduction for Late Charges or Default Interest, Enforceability of Late Charges and Default Interest, Notice to Fannie Mae of Performance Default, Full Payment After Expiration of Period Before Assessing Late Charges, Copies of Letters Sent to Borrower; Correspondence with Borrower, Funding Capital Repairs During Default Resolution, Documenting the Property Management Change, Servicer Performs Loss Mitigation Actions, Servicer Workout Action Template (SWAT), Fannie Mae Performs Loss Mitigation Actions, Election and Implementation of a Course of Action, Course of Action Lender Purchase of Mortgage Loan, Course of Action Lender Workout Election, Documentation and Terms of Lender Workout, Lender Workout Has No Impact on Loss Sharing or Recourse Obligation, Servicer Makes Delinquency Advances But Fails to Report Mortgage Loan Delinquent, Foreclosure Process Continues Unless Otherwise Agreed to by Fannie Mae, Delinquency Advances Must Be Made During Negotiation of Joint Workout, Modification, Extension, and Forbearance Fees, Management of Property Post Title Vesting in Fannie Mae, Course of Action Note Sale Election or Discounted Loan Payoff, Note Sale and Discounted Loan Payoff Defined, Any Note Sale or Discounted Payoff Gives Rise to Loss Sharing Event, Note Sale Secondary Risk Mortgage Loans, Discounted Loan Payoff - Secondary Risk Mortgage Loans, Calendar Days 31 through 60 after a Payment Default or Performance Default, No Disclosure of Lenders Contract Terms to Borrower; Borrower Not a Third-Party Beneficiary of Lender Contract, Asset Audits for Secondary Risk Mortgage Loans, Special Requirements for the Environmental Assessment, Appraisal Notice and Election of Appraisal Methodology.
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