Capital Markets Execution Document Checklist
Full Underwriting Package
Standard Delivery
(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
- 17.10(a)
- Application fee
- 17.10(b)
- Copy of written Quote, if applicable, or date and terms of the verbal Quote the Borrower has selected
- 17.10(c)
- Seller's certification, including
- Seller's compliance with representations and warranties
- Seller's determination that neither the Borrower nor any Borrower Principal is named a "specially designated national and blocked person" (SDN) on the current U.S. Treasury Department Office of Foreign Assets Control (OFAC) list
- 17.10(d)
- 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 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)] - 17.10(e)
- Borrower Certificate (Form 1115) for each Borrower and Borrower Principal
- 17.10(f)
- Certified financial statements of Borrower and Borrower Principals [See Section 17.2(f)]
- 17.10(g)
- Credit reports [See Section 17.2(j)]
- 17.10(h)
- Real Estate Schedule (Form 1116) [See Section 17.2(k)]
- 17.10(i)
- Wood-boring insect inspection report, if applicable
- 17.10(j)
- Certified rent schedule, dated within 30 days of package submission [See Section 17.2(i)]
- 17.10(k)
- Certified historical property operating statements for the three preceding completed fiscal years [See Section 17.2(f)]
- 17.10(l)
- Certified current property operating statements for the trailing 12- months (broken out on a monthly basis and dated within 30 days of package submission) [See Section 17.2(f)]
- 17.10(m)
- Updated Seller’s pro forma property operating statements [See Section 17.2(f)]
- 17.10(n)
- Inspection and rent verification schedule
- 17.10(o)
- Flood zone determination (FZD) meeting the requirements of Section 31.9
- 17.10(p)
- Appraisal (See Chapter 12)
- 17.10(q)
- Environmental report (See Chapter 13)
- 17.10(r)
- Engineering report or engineering survey (See Chapter 14)
- 17.10(s)
- Aerial photographs, if applicable, labeled with an arrow indicating North and labeled to indicate points of interest
- 17.10(t)
- Proof of zoning; damage restoration statement (See Section 8.5)
- 17.10(u)
- Building code documentation
- 17.10(v)
- Access easement and amenity and/or recreational facility easements, both with analysis and recommendations, if applicable (See Sections 8.8 and 8.9)
- 17.10(w)
- Laundry lease, if applicable [See Section 8.11(b)]
- 17.10(x)
- Commercial leases, if applicable [See Sections 8.2(b) and 8.11(a)]
- 17.10(y)
- Management plan or management agreement
- 17.10(z)
- Ground lease information, if applicable (See Chapter 30)
- 17.10(aa)
- Registration of rental units, if applicable
- 17.10(ab)
- Personal property exclusion list, if applicable
- 17.10(ac)
- Seller's mortgage loan application with Borrower, including authorization to use property and transaction information
- 17.10(ad)
- Borrower's, SPE Equity Owner's and/or guarantor's organizational documents (See Section 9.7)
- 17.10(af)
- Evidence of insurance, Seller/Servicer Certification of Insurance Coverage (Form 1133) and amount of required insurance premium
- 17.10(ag)
- 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 with the final delivery package.)
- 17.10(ah)
- Real estate tax bill (most recent from Property’s local governing body)
- 17.10(ai)
- Purchase agreement and purchase agreement analysis [See Section 17.2(m)]
- 17.10(ak)
- Certified breakdown of construction costs, if Borrower built the Property and the Property is less than one year old
- 17.10(al)
- Preliminary legal issues memorandum
- 17.10(am)
- Additional documentation:
- ______________________________________
- ______________________________________
- ______________________________________
- ______________________________________