Multifamily Housing Bond Credit
Enhancement Program Document Checklist
Full Underwriting Package
Standard Delivery
(Revised 4/2006)
(Please see referenced Multifamily Seller/Servicer
Guide sections for a full description of each item listed)
Guide
Section
Description
28.6(a)
Application
fee
28.6(b)
Copy of written Quote, if applicable, or date and terms of the verbal Quote the Borrower has selected
28.6(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
28.6(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 28.3(h)]
28.6(e)
Borrower
Certificate (Form 1115) for each Borrower and Borrower Principal
28.6(f)
Certified
financial statements of Borrower and Borrower Principals [See Section 28.3(f)]
28.6(g)
Credit
reports [See Section 28.3(i)]
28.6(h)
Real Estate
Schedule (Form 1116) [See Section 28.3(l)]
28.6(i)
Wood-boring insect inspection report, if applicable
28.6(j)
Certified
rent schedule [See Section 28.3(j)], dated within 30 days of package
submission
28.6(k)
Certified historical property financial statements for the three preceding completed fiscal years [See Section 28.3(f)]
28.6(l)
Certified current property financial statements for the current year-to-date fiscal year (dated within 30 days of package submission) [See Section 28.3(f)]
28.6(m)
Seller's pro forma
property financial statements, updated [See Section 28.3(f)]
28.6(n)
Inspection
and rent verification schedule
28.6(o)
Flood zone determination (FZD) meeting the requirements of Section 31.9
28.6(p)
Appraisal
(See Chapter 12)
28.6(q)
Environmental
report (See Chapter 13)
28.6(r)
Engineering
report or engineering survey (See Chapter 14)
28.6(s)
Aerial
photographs, labeled with an arrow indicating North and labeled to
indicate points of interest
28.6(t)
Proof of
zoning; damage restoration statement (See Section 8.5)
28.6(u)
Building
code documentation
28.6(v)
Access
easement and amenity and/or recreational facility easements, if applicable,
all with analysis and recommendations (See Sections 8.8 and 8.9)
28.6(w)
Laundry
lease, if applicable [See Section 8.11(b)]
28.6(x)
Commercial
leases, if applicable [See Sections 8.2(b) and 8.11(a)]
28.6(y)
Management
plan or Management agreement
28.6(z)
Ground
lease information, if applicable (See Chapter 30)
28.6(aa)
Registration
of rental units, if applicable
28.6(ab)
Personal
property exclusion list, if applicable
28.6(ac)
Seller's
mortgage loan application with Borrower, including authorization to
use property and transaction information
28.6(ad)
Borrower's
and/or guarantor's organizational documents (See Section 9.7)
28.6(ae)
Summary
of interest rate cap
28.6(af)
List of
bond transaction parties
28.6(ag)
Proposed
transaction schedule
28.6(ah)
Verification
of Collections (Form 1144), with the “last full month” dated
within 30 days of package submission
28.6(ai)
Evidence
of insurance, Seller/Servicer Certification of
Insurance Coverage ( Form 1133) and amount of required
insurance premium
28.6(aj)
Moisture
Management Plan [See Section 8.3(a)], if available (If the Moisture Management Plan is not yet available, it must be submitted
with the final delivery package.)
28.6(ak)
Real estate tax bill (most recent from Property's local governing body)
28.6(al)
Purchase agreement and purchase agreement analysis [See Section 28.3(n)]
28.6(am)
Calculation of prepayment premium (updated), if applicable for a refinance
28.6(an)
Certified breakdown of construction costs, if Borrower built the Property and the Property is less than one year old
28.6(ao)
Preliminary
legal issues memorandum (See Section 6.4)
