Capital Markets Execution Document Checklist
Full Underwriting Package
Early Rate-Lock Delivery Option
(Revised 5/2008)
(Please see referenced Capital Markets Execution Addendum or Multifamily Seller/Servicer Guide sections for a full description of each item listed)
- Guide Section
- Description
- 17.18
- 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 operating 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 operating statements trailing 12 months (broken out on a monthly basis), 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 operating 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 (including SPE Equity Owner) [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(q)
- Management plan or management agreement
- 17.18(r)
- Registration of rental units, if applicable
- 17.18(s)
- Personal property exclusion list, if applicable
- 17.18(t)
- Borrower's, SPE Equity Owner’s and/or guarantor's organizational documents (See Section 9.7)
- 17.18(v)
- Moisture Management Plan [See Section 8.3(a)], if applicable (If the Moisture Management Plan is required but not yet available, it must be submitted in a package.)
- 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
- 17.18(aa)
- Preliminary legal issues memorandum
- 17.18(ab)
- Additional documentation:
- ______________________________________
- ______________________________________
- ______________________________________
- ______________________________________