Capital Markets Execution Document Checklist
Preliminary Underwriting Package
Early Rate-Lock Delivery Option
(Revised 05/2008)
(Please see referenced Capital Markets Execution Addendum or Multifamily Seller/Servicer Guide sections for a full description of each item listed)
- 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 if there is an existing mortgage on the Property; 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 operating statements for the preceding three completed fiscal years [See Section 17.2(f)]
- 17.14(f)
- Trailing 12-month certified property operating 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)]
- 17.14(h)
- Photographs, including an aerial photograph, labeled with an arrow indicating North, labeled to indicate points of interest
- 17.14(i)
- Maps
- 17.14(j)
- Borrower Certificate (Form 1115-CME) for each Borrower and Borrower Principal (including SPE Equity Owner)
- 17.14(k)
- Borrower Certification of Property Physical and Environmental Condition (Form 1117)
- 17.14(l)
- Seller's mortgage loan application with Borrower, including
- Borrower's authorization for Freddie Mac to use certain information regarding the Property and basic transaction information regarding the Mortgage (see Section 27.1)
- Borrower's obligation to pay the "Borrower breakage fee" (see Section 27.2)
- The material terms of the proposed mortgage financing
- 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(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)
- 17.14(r)
- Additional documentation:
- ______________________________________
- ______________________________________
- ______________________________________
- ______________________________________