FHA Home Loans and Zoning: A Reader Question In the A and R Zones, any nonconforming use of a building first permitted in the MR1 or less restrictive zone shall be discontinued within five years from June 1, 1946, or five years from the date the use becomes nonconforming, whichever date is later. @media(max-width: 480px) { A legal nonconforming use is a use of lands or structure which was legally established according to the applicable zoning and municipal building laws at the time, but which does not meet current zoning and building regulations. Nonconforming land uses are not defined by New York state statutes but are defined in most local zoning codes. $494: see above: 2 weeks Comprehensive Research Letter. flex-direction: column; Is it possible the appraisal resulted in a legal nonconforming declaration that the lender wasnt happy with? } Get your personalized instant rate quote: Jay Voorhees -webkit-box-pack: center; WvkJu4#\U^^z`IHUK&ziaiF,iaVggYxR.QTkc@Y
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Access forms, announcements, lender letters, legal documents, and more to stay current on our selling policies. 2023 FHANewsBlog.com | All Rights Reserved, Site Map | Terms of Service | Privacy Policy | About Us |SecureRights Advertiser Contact Information. } Credit Monitoring For First-Time Home Buyers, FHA One-Time Close Construction Loan Limits Are Higher In 2023. PDF Planning & Community Development Department Compliance Application x\}o- Nonconforming use in urban planning is a type of zoning variance where a parcel of land may be given an exception from current zoning ordinances due to improvements made by a prior owner or before the current zoning ordinances made the desired use non-conforming under local law. Legal Non-conforming Use Explained By Brian Madigan LL.B. . REBUILD AND/OR LEGAL NON-CONFORMING USE DETERMINATION: Zone(s) of parcel, use of premises, date of . The agreement or covenant should include the following provisions and be recorded in the land records of the appropriate jurisdiction: responsibility for payment of repairs, including each partys representative share; default remedies in the event a party to the agreement or covenant fails to comply with theirobligations; and. position: absolute; justify-content: center; Any advice would be appreciated. 9-3-4: Nonconforming Buildings, Structures, Uses, Uses of Land, or Uses 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]. Eminent domain B. Inverse condemnation C. Police powers D. Escheat C. Police powers Application For Non-Conforming Use: Fill & Download for Free What is Non-Conforming Real Estate? | REtipster.com %Y"j
idPZk~TTTT+EYb |aII$~DN|+k=ijH|3!Ez+$)1s%kiQ$&tVP|[L?aDHNNJ* Our blog is for general educational and informational purposes only, and should not be construed as advertising or relied upon as legal advice. For example, the appraiser may not appraise only 5 acres of an unsubdivided 40acre parcel. real estate investing strategy that makes financial freedom min-width: 196px; the municipality's local zoning requirements (e.g., green compliance for new buildings, etc. Visit Selling and Servicing Guide Communications and Forms. This is an example of: Select one: A. Nonconforming Uses, aka "Grandfathered Uses" in Zoning 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. endobj
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Canada: The Legal Nonconforming Rights Trilogy In Ontario - Mondaq Under Minnesota law, owner of destroyed nonconforming use must apply to (Meaning as long as they rebuild a restaurant, it doesn't necessarily need to be "classy"). { This question is in reference to a 2011 blog post titled, Can I Get An FHA Loan For A Commercial Property? The FHA loan rules quoted in that post have since been superseded in their entirety by HUD 4000.1, though some rules may have transferred more or less intact. The subject property should front on a publicly dedicated and maintained street that meets community standards and is generally accepted by area residents. We do not ask users to bypass their lender. If the property is not located in a state that imposes statutory requirements for maintenance, and either there is no agreement or covenant for maintenance of the street, or an agreement or covenant exists but does not meet the requirements listed above, the lender may still deliver the loan. display: flex; Legal nonconforming rights are one of the most powerful protections afforded to landowners under land use planning law. Click "Download" to save the changes. Illegal nonconformities are structures or uses built without a permit and violates a portion of 2. We know how big of a milestone it is to purchase a home and our Super Team of Mortgage Analysts is available to help guide you through the process every step of the way. Zoning and Legally Non-Conforming Status - Fannie Mae display: flex !important; We recommend that you use the latest version of FireFox or Chrome. -webkit-box-orient: vertical; If Property is legal non-conforming, evidence of zoning code's rebuilding requirements to rebuild the current improvements in case of casualty or condemnation. They often exist as unique structures or landmarks within neighbourhoods. { feel free to email. Learn more atLearn more at Chicago.gov/COVIDVax. How Can Builders Offer 3%+ Rates In a 6%+ World? In this book, author and investor FHANewsBlog.com is privately funded and is not a government agency. More Definitions of legal non-conforming use. Improvements, and You can contact JVM Lendings team if you have any questions about property types, mortgage interest rates, or getting pre-approved for a home loan. justify-content: center; <>/Metadata 69 0 R/ViewerPreferences 70 0 R>>
Beware of Zoning Changes: Protecting Your Non-conforming Use margin-top: 0; -o-transition: 0.7s; This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Visit Selling and Servicing Guide Communications and Forms. The Joys of Being Grandfathered: Legal non-conforming rights, property content: ""; display: -ms-flexbox; padding: 0; 94596. Action shall be immediately commenced for abatement, removal and . color: #FFF !important; Great Opportunity For Buyers! The appraised value must reflect the entire 40acre parcel. } 1 0 obj
personal property (per the Uniform Commercial Code). We know how big of a milestone it is to purchase a home and our Super Team of Mortgage Analysts is available to help guide you through the process every step of the way. There are restrictions on legal non-conforming uses and legal non-complying buildings. Non-Conforming Property; Need Zoning OK & "Burn Letter" Grandfathering balances the private property rights of land owners against the public need to regulate land use. 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 . Fannie Mae only purchases or securitizes mortgage loans on properties if the improvements constitute a legal conforminguse of the land. information from other Fannie Mae published sources. To add some more back story - I'm buying a condo in Chicago. 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. This requirement applies to all property types. -webkit-transform: translateX(300px) skewX(-15deg); buying two houses per month using BRRRR. The appraisal must indicate whether the subject property presents. border-radius: 4px; For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. Ask Poli features exclusive Q&As and moreplus official Selling & Servicing Guide content. Track the progress and view documents associated with developments in our Land Development Review Search (LDRS) system. endobj
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The presence of sidewalks, curbs and gutters, street lights, and alleys depends on local custom. ]_h_'=S(; 40`/!iXL:|MX]:oIs Fannie Mae only purchases or securitizes mortgage loans on properties if the improvements constitute a legal conforming use of the land. As far as the reader question goes, the issue here may have much to do with lender standards and/or state law or local code compliance. fee simple or Leasehold interest, 2d 751, 754 (Fla. 5th DCA 1985): The appraisers highest and best use analysis of the subject property should consider the property as it is improved. 1485, Sept. Identifythe current zoning or land use designation. endstream
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Please contact Fredrick P. Niemann, Esq. Lenders will not lend unless they know their collateral can be rebuilt if a fire (or another disaster) occurs. He can be reached at our toll-free number (855) 376-5291 or by email at fniemann@hnlawfirm.com. Speak to a loan officer to learn more about non-FHA rules and regulations that may affect your transaction. %PDF-1.7
.blog-banner-shortcode .banner-blog-shortcode-button:hover His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. Events, Community-Owned or Privately Maintained Streets, B4-1.3-05, Improvements Section of the Appraisal Report, B4-1.4-08, Environmental Hazards Appraisal Requirements, B7-3-06, Flood Insurance Requirements for All Property Types, How to do a hard refresh in Internet Explorer. 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. Both our New Hampshire Constitution and land use laws protect . The reader question implies that the property meets the above criteria, being an actual residence in spite of the zoning. opacity: 0.5; SecureRights Advertiser Contact Information. I reached out to the zoning department but not getting anywhere with them. PDF N.J. Stat. 40:55D-37 Credit guidelines are set by the lender, typically with a 620 minimum credit score requirement. text-decoration: none; Legal Non-conforming Use Explained - Ontario Real Estate Source As the statute is written today, however, owners of nonconforming structures are not entitled to simply rebuild what they had before the storm. 1. Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status, Registration and Multifamily Affordability Estimator, Key Principals, Principals, and Guarantors, Escrow Requirements for Taxes and Insurance, Rehabilitation Work Costing More than $20,000 Per Unit, Continuing Care Retirement Communities (CCRCs), Multifamily Affordable Housing Properties, Restrictive Covenants and Affordable Regulatory Agreements, Refinancing Section 236 Properties IRP is Maintained, LIHTC Properties Lender Equity Interest, Transactions with Fannie Mae Debt and Equity Interests, Borrower, Key Principals, Guarantors, and Principals, ARM 5/5 Loan Optional 5-Year Adjustable Rate Term Renewal Eligibility, Structured Adjustable Rate Mortgage (SARM) Loans, Hybrid Adjustable Rate Mortgage (Hybrid ARM) Loans, Split Mortgage Loans and Bifurcated Mortgage Loans, Fannie Mae LIHTC Investment in Credit-Enhanced Bonds, Taxable Tails and Supplemental Mortgage Loans, Moderate Rehabilitation Mortgage Loan with Side-by-Side Bond Financing, Third Party MBS Investor Delivery Scenarios, ARM 5/5 Optional 5-Year Adjustable Rate Term Renewal, Credit Enhancement Mortgage Loan Committing and Delivery, Collection, Tracking and Reporting of Monthly P&I Payments and T&I Amounts, Reporting Loan Activity and Security Balance, ARM Loan Interest Rate and Monthly Payment Changes, Partial Prepayments Not From Insurance or Condemnation Proceeds, Prepayments (Full or Partial) Involving Insurance Proceeds or Condemnation Awards, DUS Bond Credit Enhancement Transactions Reporting and Remitting Requirements, Reporting Collateral Balances in Custodial Accounts, Internal Revenue Service Reporting Requirements, Asset Management: Loan Document Administration, Delegation of Decision-Making Authority; Retention of Outside Legal Counsel, Execution of Documents by Servicer Limited Power of Attorney, Notice of Lien or Noncompliance with Applicable Laws, Ordinances and Regulations, Casualty Losses Performing Mortgage Loans, Casualty Losses Non-Performing Mortgage Loans, Credit Enhancement Mortgage Loans and Multifamily Affordable Housing Properties, MH Communities with Tenant Site Lease Protections, Secondary Risk Mortgage Loans and Primary Risk Mortgage Loans, Capital Repairs and Protection of Property and Property Income, Reinstatement; Calculation of Payoff Amount, Non-Performing Primary Risk Mortgage Loans Transfers to Fannie Mae Special Asset Management, Non-Performing Secondary Risk Mortgage Loans Special Servicing, Special Servicing of Primary Risk Mortgage Loans, Loss Sharing and the Appraisal Process in connection with a Foreclosure Event, Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance. text-decoration: none; Article V - Non-Conforming Uses and Non-Complying Buildings information from other Fannie Mae published sources. The appraiser must comment on any adverse conditions and address their effect on the value and marketability of the subject property. background: rgba(255, 255, 255, 0.5); The Appraiser must analyze and report any adverse effect that the non-conforming use has on the Propertys value and marketability, and state whether the Property may be legally rebuilt if destroyed.. The VA One-Time Close is a 30-year mortgage available to veteran borrowers. Preexisting land uses that do not conform to current . 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. Available 7 Days A Week MON - FRI 8am - 6pm SAT - SUN 10am 5pm. transform: translateX(-100px) skewX(-15deg); align-items: center; Obtaining a Variance for a Non-Conforming Use or Structure I have a legal non conforming property which,in theevent of a fire, they need to knowI can rebuild as is. content: ""; 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. } padding: 32px; Fannie Mae will only purchase or securitize a mortgage that represents the highest and best use of the site as improved. However, a change in ownership or occupancy shall not, by itself, constitute a change of use.. color: #fff !important; Understanding nonconformity: Are you 'granfathered' in? fee simple or Leasehold interest, However, Fannie Mae will purchase or securitize a mortgage for a property that constitutes a legal, non-conforminguse of the land provided the use of the land and the appraisal analysis reflects anyadverse effect that the non-conforming use has on the value and the marketability of the property. On an annual basis or any specified period, the ratio of Net Cash Flow to the total of: principal, interest, andrequired Mezzanine Financing or Hard Preferred Equity payments. Chapter 17.140 NONCONFORMING USES, BUILDINGS, STRUCTURES, LOTS AND SIGNS fee simple or Leasehold interest, %
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. HSQO0~_qEjPP$1QP@OKFc
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$]X5"]n?QHL .blog-banner-shortcode ul li The appraisal must include the actual size of the site and not a hypothetical portion of the site for the subject property. The information should not be seen as financial advice and you should consult with a licensed mortgage professional , prior to taking any action. 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 . transform: translateX(300px) skewX(-15deg); filter: blur(5px); Mon Fri: 8am 6pm* .blog-banner-shortcode ul li:hover:first-child .banner-blog-shortcode-button The building department told me it rarely takes 30 days but they can't promise anything. Neither my real estate agent or attorney nor the sellers agent have ever heard of a lender asking for a rebuild letter. 1 0 obj
We do not offer or have any affiliation with loan modification, foreclosure prevention, payday loan, or short-term loan services. margin-bottom: 32px; Non conforming structures and/or uses may be legal or illegal. font-size: 18px; -ms-flex-pack: center; Chapter 17.05 LEGAL NONCONFORMING USES, LOTS AND STRUCTURES margin-left: 0 !important; Usually the owner loses the right to rebuild if 50 percent or more of the structure is damaged. fee simple or Leasehold interest, the Loan Documents, or For additionalinformation, seeB4-1.3-04, Site Section of the Appraisal Report. A (Very) Brief Introduction to Prior Non-Conforming Lots and Uses in However, Fannie Mae will purchase or securitize a mortgage for a property that constitutes a legal, non-conforming use of the land provided the use of the land and the appraisal analysis reflects any adverse effect that the non-conforming use has on the value and the marketability of the property. Welcome to an improved Seller/Servicer Guide. Legal Non-Conforming structures can be an excellent way to diversify an investment portfolio. Contact Us. 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. Execution, Learning opacity: 1; or building expansion on the premises, the pole sign shall lose its legal non-conforming status. If they are typical in the community, they should be present on the subject site. } 0
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. Programs shown may not include all options or pricing structures. For the purposes of this Chapter, a change of use is a change to another use listed in the same or any other Use Group. Fannie Mae customers! 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). -ms-transform: translateX(-100px) skewX(-15deg); background: #FBAE42; stream
Guide Home $2,792: see above: 2 weeks Pay Lending Establishment. 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 or maintenance of the property improvements if they are damaged or destroyed. It's going to take up to 30 business days to obtain this letter from the city. 1415 Rexford Drive Certificate of Occupancy. Improvements, and Some products may not be available in all states and restrictions may apply. font-weight: 700; 5850 San Felipe Suite #500, Houston, TX 77057 281-398-6111. But, It's Grandfathered! Six Common Myths about Nonconforming Uses Improvements, and He welcomes your inquiries. -webkit-filter: blur(5px); If the property is located on a community-owned or privately-owned and maintained street, an adequate, legally enforceable agreement or covenant for maintenance of the street is required. .blog-banner-shortcode The developer will suffer a loss because instead of building additional units, he must now set aside space for the parking area. PDF NEWS AND UPDATES - United States Department of Housing and Urban Kiesling v. Long, No. ZONING VERIFICATION & REBUILD LETTERS - City of Fernley border-radius: 6px; <>
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opacity: 0.6; For information regarding accessory units that comply or do not comply with zoning, see B4-1.3-05, Improvements Sectionof the Appraisal Report. 166 0 obj
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-webkit-transition: 0.7s; (or attach a legal description i.e. Fannie Mae only purchases or securitizes mortgage loans on properties if the improvements constitute a legal conforming use of the land. .blog-banner-shortcode ul li:first-child 13-8 4 (Exh. .blog-banner-shortcode ul .blog-banner-shortcode .new-buttons { Secondary suites are commonly permitted as a non-conforming use in the zoning district they are located in because . See Full Contact Page. The reader question doesnt address the legal non-conforming issue mentioned above. Posted in: FHA Requirements Tagged with: display: flex; How are FHA home loans affected by zoning laws? Confirm the zoning and land use laws and regulations permit the applicable, If non-conformance would result in a loss of 20% or more of the, full casualty and assuming the insurance proceeds are insufficient to fully prepay the, deliver structured data per the Zoning Report Data Supplement (, the continued marketability and economic viability of the, the percentage of damage that could occur before the, the amount and type of insurance coverage maintained by the, Americans with Disabilities Act compliance, and. 5 As the Fifth District Court of Appeal noted in Lewis v. City of Atlantic Beach, 467 So. .blog-banner-shortcode ul li S=`z&f3j
I^VcVZbz&-4;z`)aNuU(X^THTunc Additional information may be required. I've talked to the lender, someone at the collateral review department is requesting this letter. A use or structure can become legal nonconforming due to rezoning, annexation, or revisions to the Zoning Code. FHAnewsblog.com assumes no responsibility for errors or omissions in the contents on the Service. Events, B4-1.3-05, Improvements Sectionof the Appraisal Report, B4-1.3-04, Site Section of the Appraisal Report, How to do a hard refresh in Internet Explorer. Nonconformities are governed by section 21.13 of the Anchorage municipal code. If you have additional questions, Fannie Mae customers can visit Ask Poli to get Moseley Real Estate: Chapter 3 Quiz Flashcards | Quizlet 3 0 obj
The owners of the subject property must have the right to access those facilities, which must be viable on an ongoing basis. transform: translateX(300px) skewX(-15deg); If you have questions about the purchase process, you can also view ourPurchase Process Overview here. The appraiser must also indicate the specific FEMA flood zone and the map number and its effective date. hb```f`` ,@QeptAGXXiiY Q ($Y8 =@m+x012lh: inF=; F+! 00{*0C ,k
To apply for a rebuild letter ( PDF or Word ), please follow the instructions on the application for submittal. 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 transition: 0.7s; We do not ask users to surrender or transfer title. Processing time may take up to 30 days. 4 0 obj
, 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.