Supplemental Mortgage Product
Document Checklist
for a Supplemental Mortgage Subsequent to an Existing Freddie Mac First
Mortgage
Preliminary 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)
NOTE:
The checklist below is for a supplemental Mortgage subsequent to an existing
Freddie Mac first Mortgage.
Guide
Section
Description
17.14(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; proposed sources and uses of funds;
tenancy characteristics; and cash equity at risk] [See Section 17.2(h)]
17.14(b)
Evidence of insurance, Seller/Servicer Certification of Insurance Coverage
(Form 1133) and amount of required insurance premium
17.14(d)
Certified
rent schedule, dated within 30 days of the package submission
[See Section 17.2(i)]
17.14(e)
Certified historical property financial statements for the preceding three completed
fiscal years [See Section 17.2(f)]
17.14(f)
Certified current fiscal year-to-date property financial statements, dated
within 30 days of package submission [See Section 17.2(f)]
17.14(g)
Seller's pro forma
property financial statements [See Section 17.2(f)]
20.9(d)
Borrower
Certificate (Form 1115) for each Borrower or Borrower Principal or, if no
material adverse change, Borrower Certification of No Change (Form 1147)
17.14(k)
Borrower Certification
of Property Physical and Environmental Condition (Form 1117)
17.14(m)
Cooperative
analysis, if applicable [See Section 17.2(g)]
17.14(n)
Seller's
certification regarding "specially designated nationals and blocked
persons"
17.14(o)
Verification
of Collections (Form 1144) ) (The “last full month” must be dated within
30 days of the package submission.)
17.14(p)
Ground
lease information, if applicable (See Chapter 30)
17.14(q)
Request for approval
of shared facilities, if applicable, with analysis and
recommendation (See Section 8.9)
