Full Underwriting Package
Early Rate-Lock Delivery Option
(Revised 10/2008)
(Please see referenced Multifamily Seller/Servicer
Guide sections for a full description of each item listed)
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 on 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(g)]
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(h)
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 recommendation, 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(r)
Registration
of rental units, if applicable
17.18(s)
Personal
property exclusion list, if applicable
17.18(u)
Verification
of Collections (Form 1144),
with the "last full month" dated within 30 days of package submission
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 for a refinance
17.18(z)
Certified breakdown of construction costs, if Borrower built the Property and the Property is less than one year old
