Multifamily Asset definition

Multifamily Asset means, an Eligible Asset with respect to which the Mortgaged Property consists of real property with five (5) or more residential units (including mixed use multi-family/office and multi-family retail) as to which the majority of the underwritten revenue is from residential rental units, and which may include mobile housing and student housing.
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Multifamily Asset. An Asset with respect to which the underlying Mortgaged Property consists of real property with five or more residential rental units (including mixed use multifamily/office and multifamily retail) as to which the majority of the underwritten revenue is from residential rental units.
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Multifamily Asset means, an Eligible Asset with respect to which the Mortgaged Property consists of real property with five (5) or more residential units (including mixed use multi-family/office and multi-family retail as to which the majority of the underwritten revenue is from residential rental units), and which may include mobile housing and student housing.
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Examples of Multifamily Asset in a sentence

  • Further information concerning program enforcement can be found in HUD Handbook 4350.1, Multifamily Asset Management and Project Servicing.

  • The Director of the Office of Multifamily Asset Management will be the initial contact for coordinating communication between the Hub and Headquarters.

  • Refer to HUD Handbook 4350.1, Multifamily Asset Management and Project Servicing, and other current HUD notices for guidance on handling excess income.

  • Senior Project Managers are encouraged to closely review Handbook 4350.1, Multifamily Asset Management and Project Servicing, Chapter 5, Initial Servicing (paying particular attention to Chapter 5, Section 2, Preventing Defaults, 5-4 and 5-5); and Chapter 6, Reserve Funds for Replacements.

  • Telecopy: (000) 000-0000 As to Xxxxxx Mae: Xxxxxx Xxx 0000 Xxxxxxxxx Xxxxxx, X.X. Xxxxxxxxxx, X.X. 00000-0000 Attention: Vice President for Multifamily Asset Management Telecopy No.: (000) 000-0000 with a copy to Servicer: Red Mortgage Capital, Inc.

  • Each MOR shall be conducted and documented in accordance with HUD Handbook 4350.1, Multifamily Asset Management and Project Servicing and HUD Handbook 4350.3, Occupancy Requirements of Subsidized Multifamily Housing Programs and other HUD issued MOR guidance.

  • An agreement that the Lender will open its files and records on FHA applications for monitoring by HUD staff, including by the Multifamily Asset Counterparty Oversight Division and the Office of Inspector General.

  • The Servicer must obtain wire transfer instructions from Freddie Mac Multifamily Asset Management, Borrower Transactions or Structured Transactions as applicable.

  • The Servicer must notify Freddie Mac Multifamily Asset Management, Surveillance of any changes in the risk factors.

  • Within 10 days following receipt of notice that the Borrower wishes to exercise its option to extend the term of a Rate Reset Mortgage and reset the interest rate, the Servicer must notify Freddie Mac Multifamily Asset Management, Structured Transactions.


More Definitions of Multifamily Asset

Multifamily Asset. An Asset with respect to which the Mortgaged Property consists of real property with five or more residential rental units (including mixed use multi-family/office and multi-family retail) as to which the majority of the underwritten revenue is from residential rental units. “Non-Controlling Pari Passu Participation Interest”: A Senior Interest that is a pari passu participation interest in a performing Whole Loan as identified by Seller to Buyer from time to time and incorporated herein by reference under which the holder of such interest does not have the ability to control and make all of the material decisions with respect to the related Whole Loan. “Non-Recourse Indebtedness”: With respect to any Person and any date, indebtedness of such Person as of such date for borrowed money in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, Insolvency Events, non-approved transfers or other events) is contractually limited to specific assets of such Person encumbered by a Lien securing such Indebtedness. “Non-Utilization Fee”: Defined in the Fee Letter, which definition is incorporated herein by reference. “Off-Balance Sheet Obligations”: With respect to any Person and any date, to the extent not included as a liability on the balance sheet of such Person, all of the following with respect to such Person as of such date: (a) monetary obligations under any financing lease or so– called “synthetic,” tax retention or off-balance sheet lease transaction that, upon the application of any Insolvency Laws, would be characterized as indebtedness, (b) monetary obligations under any -23- LEGAL02/38049601v7
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Related to Multifamily Asset

  • Multifamily dwelling means a structure that contains more than one separate residential dwelling unit, which is used or occupied, or intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.

  • Multifamily housing means housing accommodations designed as a residence for more than 1 family.

  • College property means any property owned, leased, or controlled by a member college of the Virginia Community College System and the administrative office of the Virginia Community College System.

  • Family day home means a child day program offered in the residence of the provider or the home of any of the children in care for one through 12 children under the age of 13, exclusive of the provider's own children and any children who reside in the home, when at least one child receives care for compensation. The provider of a licensed or registered family day home shall disclose to the parents or guardians of children in their care the percentage of time per week that persons other than the provider will care for the children. Family day homes serving five through 12 children, exclusive of the provider's own children and any children who reside in the home, shall be licensed. However, no family day home shall care for more than four children under the age of two, including the provider's own children and any children who reside in the home, unless the family day home is licensed or voluntarily registered. However, a family day home where the children in care are all related to the provider by blood or marriage shall not be required to be licensed.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Residential property means improved property that:-