Supplemental Mortgage Product
Document Checklist
for a Supplemental Mortgage Subsequent to an Existing Freddie Mac First
Mortgage
Preliminary Underwriting Package
Standard Delivery
(Revised 4/2006)
(Please see referenced Multifamily Seller/Servicer
Guide sections for a full description of each item listed)
NOTE:
The checklist below is for a supplemental Mortgage subsequent to an existing
Freddie Mac first Mortgage.
Guide
Section
Description
17.8(a)
Mortgage
transaction narrative analysis 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;
proposed sources and uses of funds; tenancy characteristics; and
cash equity at risk] [See Section 17.2(h)]
17.8(b)
Certified rent schedule, dated within 30 days of package submission
[See Section 17.2(i)]
17.8(c)
Certified historical
property financial statements for the preceding three
completed fiscal years [See Section 17.2(f)]
17.8(e)
Seller's pro forma property
financial statements [See Section 17.2(f)]
17.8(h)
Cooperative
analysis, if applicable, [See Section 17.2(g)]
17.8(i)
Request for approval
of shared facilities, if applicable, including analysis and
recommendation (See Section 8.9)
