III. Delegation Determination Questions (If any question is answered the request is not delegated to the Servicer) “Yes” – QUESTIONS YES NO COMMENTS 1 Is the Mortgage Loan currently rated If describe how the “Yes”, Substandard or Doubtful on Fannie Mae's proposed condemnation or Watchlist? conveyance in lieu of condemnation will affect the Mortgage Loan risk factors. 2 Is the Mortgage Loan in either: If notify immediately if “Yes,” in Payment Default. If in (a) Payment Default; or Performance Default (including if (b) Performance Default? the condemnation or conveyance in lieu of condemnation was entered into without Servicer or Fannie Mae consent), submit the Form 4636.C, including information regarding the default and actions to cure the default. 3 Will the request require an amendment to If contact for Credit “Yes”, either the Master Credit Facility Agreement Facilities and Bulk Deliveries. or Bulk Delivery Agreement? (Applicable The Servicer must send the only to a Fannie Mae Credit Facility or Bulk completed Form 4636.C through Delivery.) the MAMP for review, and Fannie Mae Counsel will be engaged. 4 Is the condemnation a result of or will it If notify immediately. “Yes”, cause a zoning violation, health code violation, or building code violation? 5 Would the condemnation cause the DSCR of If submit a copy of the “Yes”, the Mortgage Loan to be less than the lesser pro forma income Borrower’s of: statement and the Servicer’s analysis of the pro forma. the Underwritten DSCR of the Mortgage Loan; or the DSCR of the Mortgage Loan immediately before the condemnation?
III. Delegation Determination Questions (If any question is answered “Yes” – the request is not delegated to the Servicer) QUESTIONS YES NO COMMENTS 1 Is the Mortgage Loan currently rated Substandard or Doubtful on Fannie Mae's Watchlist? If “Yes”, describe how the proposed condemnation or conveyance in lieu of condemnation will affect the Mortgage Loan risk factors. 2 Is the Mortgage Loan in either: (a) Payment Default; or (b) Performance Default? If “Yes,” notify immediately if in Payment Default. If in Performance Default (including if the condemnation or conveyance in lieu of condemnation was entered into without Servicer or Fannie Mae consent), submit the Form 4636.C, including information regarding the default and actions to cure the default. 3 Will the request require an amendment to either the Master Credit Facility Agreement or Bulk Delivery Agreement? (Applicable only to a Fannie Mae Credit Facility or Bulk Delivery.) If “Yes”, contact for Credit Facilities and Bulk Deliveries. The Servicer must send the completed Form 4636.C through the MAMP for review, and Fannie Mae Counsel will be engaged. 4 Is the condemnation a result of or will it cause a zoning violation, health code violation, or building code violation? If “Yes”, notify immediately. 5 Would the condemnation cause the DSCR of the Mortgage Loan to be less than the lesser of: the Underwritten DSCR of the Mortgage Loan; or the DSCR of the Mortgage Loan immediately before the condemnation? If “Yes”, submit a copy of the Borrower’s pro forma income statement and the Servicer’s analysis of the pro forma.
4636c.docx