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Contractors Estimate for Insurance Company document sample
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SPECIAL BORROWER REQUESTS
LIST OF POSSIBLE DATA REQUIREMENTS
REQUEST RECEIVED
Request from Borrower/Notification of the event
Conference call with Borrower and all parties
Verify loan status - Whether the loan is current in all respects, payments, taxes, insurance coverage and
escrow requirements; No other non-monetary defaults exist; Are any advances outstanding (P&I, Property
Protection, etc.)
Review Basic Mortgage Loan Documents to verify specific conditions/requirements regarding special
requests and approval/consent
Review File for completeness - Original Environmental, Original Appraisal, Original Title Policy, Original
Engineers Report, Original Recorded documents - D/T, UCC's, ALRP
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below)
Assumption application
Bill Application/Review Fee
Bill Assumption/Consent Fee
Collect Legal Fee Deposit
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower
Signed Financials by Partners/Principals of Borrower
Signed Financials of Guarantor(s)
Updated Borrower Information - This would include Credit References, Bank Information, Prior 2 years Tax
Returns, Copy of Entity Documents, Resume of Past Management ePerience, List of all Real Property
Owned, Resume, Credit Check, Cash Flow Statement for all Real Estate holdings
New Borrower information - This would include Name, Address, Tax ID #, Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past Management
EPerience, List of all Real Property Owned, Resume, Credit Check, Cash Flow Statement for all Real Estate
Holdings
Diagram of proposed ownership structure with percentages of ownership
Description and source of equity for purchase of property
Updated Guarantor information - This would include Name, Address, Tax ID #, Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past Management
EPerience, List of all Real Property Owned, Resume, Credit Check
New Guarantor information - This would include Name, Address, Tax ID #, Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past Management
EPerience, List of all Real Property Owned, Resume, Credit Check
Updated Key Principals (and Spouses) information - This would include Name, Address, Tax ID #, Credit
References, Bank Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past
Management EPerience, List of all Real Property Owned, Resume, Credit Check
New Key Principals (and Spouses) information - This would include Name, Address, Tax ID #, Credit
References, Bank Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past
Management EPerience, List of all Real Property Owned, Resume, Credit Check
PROPERTY INFORMATION
Inspection of the Property
Current Operating Statements for Property - 2 years
Current Operating Statements for new Property - 2 years
Certified Income and ePense statement for new property - 2 years
Current Rent Roll for property
Current Rent Roll for new property
Copies of all new or proposed leases
Information re proposed tenants/leases
Tenant Financials for Major Lease(s)
Proforma Operating Statement on Property for next 3 years
Proforma Operating Statement on NEW Property for next 3 years
Brokers Price Opinion of Property Value
Funding Sources for new or necessary escrow accounts
OPINIONS
Opinion of Counsel - Corporate Action
REMIC opinion letter - CMBS DEAL SPECIFIC
CONSTRUCTION INFORMATION
Proposed repairs to property
Construction Plans and Specifications
General Contract
Cost Breakdown of Construction
Building Permit/Zoning Approvals etc.
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SPECIAL BORROWER REQUESTS
LIST OF POSSIBLE DATA REQUIREMENTS
Construction Schedule and Draw Schedule - anticipated occupancy date
Source of equity funds for out of pocket construction costs
Guarantee of Completion/Guaranty of Completion Bond
General Contractors estimate of cost to repair/rebuild
Insurance Company estimate of Loss
Copy of recorded mechanics lien
Information regarding the contract/payment of mechanics lien
Indemnity Bond for mechanics lien
Release/discharge of mechanic lien
Borrower Certification re: No defaults
Borrower Certification of lien free and completion of construction
INSURANCE, TITLE AND SURVEY INFORMATION
Amended Survey to evidence - easement, partial release, condemnation, new construction
ALTA Survey for new property
Plat Map of Property
All information relating to title agency/company and contact information
New title rundown or title update - This is an update to the present policy not a new policy
Proforma title policy or proforma title endorsement - New Policy or endorsement to old policy
UCC Lien Search
Evidence of remaining property being a separate legal parcel
Tax parcel info for new or remaining property
Market impact information
All information relating to property/casualty insurance agency and carrier
Copy of new insurance coverage
MANAGEMENT AGENT/ ESCROW AGENT INFORMATION
Information on Third Party Management - synopsis of the management company, no. of properties/type
managed - company resume
Escrow Agent information
CONTRACTS, AGREEMENTS AND REPORTS
Copy of Proposed Management Agreement
Copy of the 2nd Trust/Mezz commitment letter
New Engineering Report
New or Updated Appraisal
New Environmental Assessement Report
Information regarding 2nd Trust/Mezz lender
Copy of Executed Sale Agreement
Copy of Condemnation Notice
Condemning Jurisdiction - information
Partial reconveyance to be signed by Lender/Owner of Loan
Review & Approval of Easement Agreement including Compensation to be paid to borrower
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent
Underwriting/ Write up of Financial Impact of Special Request
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC
Approval of Controlling Party - CMBS DEAL SPECIFIC
Approval of Conduit Lender
Approval of Whole Loan Lender
Approval/Conditional letter to Borrower
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
Collection of Assumption/Consent Fee
Collection of reimbursement, plus interest if applicable, for all P&I and Property Protection Advances
Execution of all documents/waivers
Update of UCC lien search
Title insurance endorsement/new policy
Additional requirements of counsel/Lender
New Insurance Coverage/Endorsement
Funding of needed escrows
W-9 form for new borrower
Tenant Estoppels/Subordinations
Written Waivers/ Modifications including contractor lien waivers
L/C draw letter
Recordation of documents
Modification Agreement
Assumption Agreement
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SPECIAL BORROWER REQUESTS
LIST OF POSSIBLE DATA REQUIREMENTS
Partial or Full Release
UCC's
Plat
Easement Agreement
Condemnation Deed
SNDA
Memorandum of Lease
New Mortgage/Deed of Trust
New Assign of Leases and Rents
Release of Lien/Judgment
Intercreditor Agreement
Extension Agreement
SERVICING
Receipt and distribution of Documents
Updating of Loan Servicing System
Updating Bank Accounts/Escrow Accounts
Update Tax Service Contractor
Hello letter to new parties
Set up inspection schedule
Update/endorsements to Insurance Coverage - Flood Certification
Evidence of Tenant Insurance
Certificate of Occupancy
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE SPECIFIC TRANSACTION,
DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 3
SPECIAL BORROWER REQUESTS ASSUMPTION
PROCESSING CHECKLIST
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes, insurance coverage and
escrow requirements; No other non-monetary defaults exist; Are any advances outstanding (P&I,
Property Protection, etc.) M
Review Basic Mortgage Loan Documents to verify specific conditions/requirements regarding special
requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal, Original Title Policy, Original
Engineers Report, Original Recorded documents - D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Assumption application P
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower M
Signed Financials by Partners/Principals of Borrower P
Signed Financials of Guarantor(s) P
New Borrower information - This would include Name, Address, Tax ID #, Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past Management
EPerience, List of all Real Property Owned, Resume, Credit Check, Cash Flow Statement for all Real
Estate Holdings M
Diagram of proposed ownership structure with percentages of ownership M
Description and source of equity for purchase of property M
New Guarantor information - This would include Name, Address, Tax ID #, Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past Management
EPerience, List of all Real Property Owned, Resume, Credit Check P
New Key Principals (and Spouses) information - This would include Name, Address, Tax ID #, Credit
References, Bank Information, Prior 2 years Tax Returns, Copy of all entity documents, Resume of Past
Management EPerience, List of all Real Property Owned, Resume, Credit Check M
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Funding Sources for new or necessary escrow accounts P
OPINIONS
Opinion of Counsel - Corporate Action M
REMIC opinion letter - CMBS DEAL SPECIFIC P
CONSTRUCTION INFORMATION
Proposed repairs to property P
INSURANCE, TITLE AND SURVEY INFORMATION
All information relating to property/casualty insurance agency and carrier M
Copy of new insurance coverage M
MANAGEMENT AGENT/ ESCROW AGENT INFORMATION
Information on Third Party Management - synopsis of the management company, no. of properties/type
managed - company resume M
Escrow Agent information M
CONTRACTS, AGREEMENTS AND REPORTS
Copy of Proposed Management Agreement M
Copy of the 2nd Trust/Mezz commitment letter P
Copy of Executed Sale Agreement M
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SPECIAL BORROWER REQUESTS ASSUMPTION
PROCESSING CHECKLIST
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
Additional requirements of counsel/Lender P
New Insurance Coverage/Endorsement M
Funding of needed escrows M
W-9 form for new borrower M
Tenant Estoppels/Subordinations P
Written Waivers/ Modifications including contractor lien waivers P
L/C draw letter P
Recordation of documents M
Assumption Agreement M
UCC's M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
Update Tax Service Contractor M
Hello letter to new parties M
Set up inspection schedule P
Update/endorsements to Insurance Coverage - Flood Certification P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE SPECIFIC TRANSACTION,
DOCUMENTS AND HOLDER OF LOAN
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RESTRUCTURING
SPECIAL BORROWER REQUESTS OWNERSHIP OF
PROCESSING CHECKLIST BORROWER
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Assumption application P
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower P
Signed Financials by Partners/Principals of Borrower P
Signed Financials of Guarantor(s) P
Current Operating Statements for Property - 2 years P
Current Rent Roll for property P
Diagram of proposed ownership structure with percentages of ownership M
New Guarantor information - This would include Name, Address, Tax ID #,
Credit References, Bank Information, Prior 2 years Tax Returns, Copy of all
entity documents, Resume of Past Management EPerience, List of all Real
Property Owned, Resume, Credit Check P
New Key Principals (and Spouses) information - This would include Name,
Address, Tax ID #, Credit References, Bank Information, Prior 2 years Tax
Returns, Copy of all entity documents, Resume of Past Management EPerience,
List of all Real Property Owned, Resume, Credit Check
P
PROPERTY INFORMATION
Inspection of the Property P
OPINIONS
Opinion of Counsel - Corporate Action M
REMIC opinion letter - CMBS DEAL SPECIFIC P
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
P
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search P
Title insurance endorsement/new policy P
New Insurance Coverage/Endorsement P
W-9 form for new borrower P
Written Waivers/ Modifications including contractor lien waivers P
L/C draw letter P
Recordation of documents P
Assumption Agreement P
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RESTRUCTURING
SPECIAL BORROWER REQUESTS OWNERSHIP OF
PROCESSING CHECKLIST BORROWER
UCC's P
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 7
RESTRUCTURING
SPECIAL BORROWER REQUESTS OWNERSHIP OF
PROCESSING CHECKLIST BORROWER
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System P
Updating Bank Accounts/Escrow Accounts P
Update Tax Service Contractor P
Hello letter to new parties P
Set up inspection schedule P
Update/endorsements to Insurance Coverage - Flood Certification P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 8
SPECIAL BORROWER REQUESTS EASEMENT
PROCESSING CHECKLIST
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
CONSTRUCTION INFORMATION P
Zoning Approval
INSURANCE, TITLE AND SURVEY INFORMATION
Amended Survey to evidence easement M
Plat Map of Property P
Market impact information P
CONTRACTS, AGREEMENTS AND REPORTS
Review & Approval of Easement Agreement including Compensation to be paid
to borrower M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
P
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Title insurance endorsement/new policy M
Recordation of documents M
Plat M
Easement Agreement M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System P
Update Tax Service Contractor M
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 9
SPECIAL BORROWER REQUESTS EASEMENT
PROCESSING CHECKLIST
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 10
SPECIAL BORROWER REQUESTS SECONDARY/MEZZ
PROCESSING CHECKLIST FINANCING
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults exist;
Are any advances outstanding (P&I, Property Protection, etc.) M
Review Basic Mortgage Loan Documents to verify specific conditions/requirements
regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal, Original Title
Policy, Original Engineers Report, Original Recorded documents - D/T, UCC's, ALRP
M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P*
Bill Assumption/Consent Fee P*
Collect Legal Fee Deposit P*
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower P*
Signed Financials by Partners/Principals of Borrower P*
Signed Financials of Guarantor(s) P*
Updated Borrower Information - This would include Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of Entity Documents, Resume of Past
Management ePerience, List of all Real Property Owned, Resume, Credit Check, Cash
Flow Statement for all Real Estate holdings P*
Updated Guarantor information - This would include Name, Address, Tax ID #, Credit
References, Bank Information, Prior 2 years Tax Returns, Copy of all entity documents,
Resume of Past Management EPerience, List of all Real Property Owned, Resume,
Credit Check P*
Updated Key Principals (and Spouses) information - This would include Name, Address,
Tax ID #, Credit References, Bank Information, Prior 2 years Tax Returns, Copy of all
entity documents, Resume of Past Management EPerience, List of all Real Property
Owned, Resume, Credit Check P*
PROPERTY INFORMATION
Inspection of the Property M
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Copies of all new or proposed leases P
Tenant Financials for Major Lease(s) P
Proforma Operating Statement on Property for next 3 years M
Funding Sources for new or necessary escrow accounts M
OPINIONS
Opinion of Counsel - Corporate Action P
CONTRACTS, AGREEMENTS AND REPORTS
Copy of the 2nd Trust/Mezz commitment letter M
New or Updated Appraisal M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC M
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 11
SPECIAL BORROWER REQUESTS SECONDARY/MEZZ
PROCESSING CHECKLIST FINANCING
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
UCC lien search M
Title insurance endorsement/new policy M
Additional requirements of counsel/Lender P
New Insurance Coverage/Endorsement M
Funding of needed escrows P
Tenant Estoppels/Subordinations P
Recordation of documents M
UCC's M
New Mortgage/Deed of Trust M
New Assign of Leases and Rents M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts P
Update Tax Service Contractor P
Set up inspection schedule P
Update/endorsements to Insurance Coverage - Flood Certification M
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE SPECIFIC
TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
* = IN MOST INSTANCES THESE ITEMS WOULD BE REQUIRED HOWEVER, P'S ARE
NOTED TO COVER INSTANCES THAT ARE PRE-APPROVED IN THE LOAN
DOCUMENTS
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 12
SPECIAL BORROWER REQUESTS PARTIAL
PROCESSING CHECKLIST RELEASE
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Brokers Price Opinion of Property Value P
OPINIONS
Opinion of Counsel - Corporate Action P
REMIC opinion letter - CMBS DEAL SPECIFIC P
INSURANCE, TITLE AND SURVEY INFORMATION
Amended Survey to evidence partial release M
Evidence of remaining property being a separate legal parcel M
Tax parcel info for new or remaining property M
Market impact information P
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
UCC lien search M
Title insurance endorsement/new policy M
New Insurance Coverage/Endorsement M
Recordation of Documents M
Partial or Full Release M
Plat P
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 13
SPECIAL BORROWER REQUESTS PARTIAL
PROCESSING CHECKLIST RELEASE
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System P
Updating Bank Accounts/Escrow Accounts P
Update Tax Service Contractor M
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 14
SPECIAL BORROWER REQUESTS CONDEMNATION
PROCESSING CHECKLIST
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Brokers Price Opinion of Property Value P
INSURANCE, TITLE AND SURVEY INFORMATION
Amended Survey to evidence condemnation M
Plat Map of Property M
Evidence of remaining property being a separate legal parcel M
Tax parcel info for new or remaining property M
Market impact information P
CONTRACTS, AGREEMENTS AND REPORTS
New or Updated Appraisal P
Copy of Executed Sale Agreement OR Copy of Condemnation Notice M
Condemning Jurisdiction - information M
Partial reconveyance to be signed by Lender/Owner of Loan M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Title insurance endorsement/new policy M
New Insurance Coverage/Endorsement M
Recordation of documents M
Condemnation Deed M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 15
SPECIAL BORROWER REQUESTS CONDEMNATION
PROCESSING CHECKLIST
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System P
Updating Bank Accounts/Escrow Accounts P
Update Tax Service Contractor M
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 16
SPECIAL BORROWER REQUESTS MECHANIC LIEN
PROCESSING CHECKLIST DISPUTE
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Funding Sources for new or necessary escrow accounts P
CONSTRUCTION INFORMATION
Construction Plans and Specifications P
General Contract P
Cost Breakdown of Construction P
Building Permit/Zoning Approvals etc. P
Construction Schedule and Draw Schedule - anticipated occupancy date P
Source of equity funds for out of pocket construction costs P
Guarantee of Completion/Guaranty of Completion Bond P
Copy of recorded mechanics lien M
Information regarding the contract/payment of mechanics lien M
Indemnity Bond for mechanics lien P
Borrower Certification of lien free and completion of construction M
INSURANCE, TITLE AND SURVEY INFORMATION
All information relating to title agency/company and contact information M
UCC Lien Search M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
Recordation of documents M
Release of Lien/Judgment M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 17
SPECIAL BORROWER REQUESTS MECHANIC LIEN
PROCESSING CHECKLIST DISPUTE
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System P
Updating Bank Accounts/Escrow Accounts P
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 18
EXTENSION
SPECIAL BORROWER REQUESTS OF
PROCESSING CHECKLIST MATURITY
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower M
Signed Financials by Partners/Principals of Borrower M
Signed Financials of Guarantor(s) M
Updated Borrower Information - This would include Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of Entity Documents, Resume of
Past Management ePerience, List of all Real Property Owned, Resume, Credit
Check, Cash Flow Statement for all Real Estate holdings P
Updated Guarantor information - This would include Name, Address, Tax ID #,
Credit References, Bank Information, Prior 2 years Tax Returns, Copy of all
entity documents, Resume of Past Management EPerience, List of all Real
Property Owned, Resume, Credit Check P
Updated Key Principals (and Spouses) information - This would include Name,
Address, Tax ID #, Credit References, Bank Information, Prior 2 years Tax
Returns, Copy of all entity documents, Resume of Past Management EPerience,
List of all Real Property Owned, Resume, Credit Check
P
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Proforma Operating Statement on Property for next 3 years M
Brokers Price Opinion of Property Value P
Funding Sources for new or necessary escrow accounts P
OPINIONS
Opinion of Counsel - Corporate Action M
CONTRACTS, AGREEMENTS AND REPORTS
New or Updated Appraisal P
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC M
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 19
EXTENSION
SPECIAL BORROWER REQUESTS OF
PROCESSING CHECKLIST MATURITY
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
Funding of needed escrows P
Recordation of documents M
Extension Agreement M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts P
Update Tax Service Contractor M
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 20
SPECIAL BORROWER REQUESTS COLLATERAL
PROCESSING CHECKLIST SUBSTITUTION
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower M
Signed Financials by Partners/Principals of Borrower M
PROPERTY INFORMATION
Inspection of the Property M
Current Operating Statements for Property - 2 years M
Current Operating Statements for new Property - 2 years M
Certified Income and ePense statement for new property - 2 years M
Current Rent Roll for property M
Current Rent Roll for new property M
Copies of all new or proposed leases M
Tenant Financials for Major Lease(s) P
Proforma Operating Statement on new Property for next 3 years M
Funding Sources for new or necessary escrow accounts M
OPINIONS
Opinion of Counsel - Corporate Action M
INSURANCE, TITLE AND SURVEY INFORMATION
ALTA Survey for new property M
Plat Map of Property M
Proforma title policy or proforma title endorsement - New Policy or endorsement
to old policy M
UCC Lien Search M
Evidence of remaining property being a separate legal parcel M
Tax parcel info for new or remaining property M
MANAGEMENT AGENT/ ESCROW AGENT INFORMATION
Information on Third Party Management - synopsis of the management
company, no. of properties/type managed - company resume M
Escrow Agent information P
CONTRACTS, AGREEMENTS AND REPORTS
Copy of Proposed Management Agreement M
New Engineering Report M
New Appraisal M
New Environmental Assessement Report M
Copy of Sale Agreement (Current and/or new property) P
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 21
SPECIAL BORROWER REQUESTS COLLATERAL
PROCESSING CHECKLIST SUBSTITUTION
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
New Insurance Coverage/Endorsement M
Funding of needed escrows M
Tenant Estoppels/Subordinations M
L/C draw letter P
Recordation of documents M
Partial or Full Release M
New Mortgage/Deed of Trust M
New Assign of Leases and Rents M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
Update Tax Service Contractor M
Hello letter to new parties P
Set up inspection schedule P
Evidence of Tenant Insurance M
Certificate of Occupancy M
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 22
SPECIAL BORROWER REQUESTS ADDITIONAL LOAN
PROCESSING CHECKLIST ADVANCE
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower M
Signed Financials by Partners/Principals of Borrower M
Signed Financials of Guarantor(s) M
Updated Borrower Information - This would include Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of Entity Documents, Resume of
Past Management ePerience, List of all Real Property Owned, Resume, Credit
Check, Cash Flow Statement for all Real Estate holdings M
PROPERTY INFORMATION
Inspection of the Property M
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Proforma Operating Statement on Property for next 3 years M
Funding Sources for new or necessary escrow accounts M
OPINIONS
Opinion of Counsel - Corporate Action M
INSURANCE, TITLE AND SURVEY INFORMATION
New title rundown or title update - This is an update to the present policy not a
new policy P
Proforma title policy or proforma title endorsement - New Policy or endorsement
to old policy M
UCC Lien Search P
CONTRACTS, AGREEMENTS AND REPORTS
New Engineering Report P
New or Updated Appraisal M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 23
SPECIAL BORROWER REQUESTS ADDITIONAL LOAN
PROCESSING CHECKLIST ADVANCE
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
New Insurance Coverage/Endorsement P
Funding of needed escrows P
Tenant Estoppels/Subordinations P
Recordation of documents M
Modification Agreement M
UCC's M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
Set up inspection schedule P
Evidence of Tenant Insurance P
Certificate of Occupancy P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 24
LOAN
SPECIAL BORROWER REQUESTS RESTRUCTURING-
PROCESSING CHECKLIST WORKOUT
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Bill Assumption/Consent Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
FINANCIAL INFORMATION-PARTIES
Current Financials of Current Borrower M
Signed Financials by Partners/Principals of Borrower M
Signed Financials of Guarantor(s) M
Updated Borrower Information - This would include Credit References, Bank
Information, Prior 2 years Tax Returns, Copy of Entity Documents, Resume of
Past Management ePerience, List of all Real Property Owned, Resume, Credit
Check, Cash Flow Statement for all Real Estate holdings M
Updated Guarantor information - This would include Name, Address, Tax ID #,
Credit References, Bank Information, Prior 2 years Tax Returns, Copy of all
entity documents, Resume of Past Management EPerience, List of all Real
Property Owned, Resume, Credit Check M
Updated Key Principals (and Spouses) information - This would include Name,
Address, Tax ID #, Credit References, Bank Information, Prior 2 years Tax
Returns, Copy of all entity documents, Resume of Past Management EPerience,
List of all Real Property Owned, Resume, Credit Check
M
PROPERTY INFORMATION
Inspection of the Property M
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Copies of all new or proposed leases M
Tenant Financials for Major Lease(s) M
Proforma Operating Statement on Property for next 3 years M
Brokers Price Opinion of Property Value M
Funding Sources for new or necessary escrow accounts P
OPINIONS
Opinion of Counsel - Corporate Action M
REMIC opinion letter - CMBS DEAL SPECIFIC M
INSURANCE, TITLE AND SURVEY INFORMATION
New title rundown or title update - This is an update to the present policy not a
new policy M
Proforma title policy or proforma title endorsement - New Policy or endorsement
to old policy M
UCC Lien Search M
CONTRACTS, AGREEMENTS AND REPORTS
Copy of Proposed Management Agreement P
New Engineering Report P
New or Updated Appraisal or Brokers Opinion of Value M
New Environmental Assessement Report P
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 25
LOAN
SPECIAL BORROWER REQUESTS RESTRUCTURING-
PROCESSING CHECKLIST WORKOUT
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Collection of Assumption/Consent Fee P
Collection of reimbursement, plus interest if applicable, for all P&I and Property
Protection Advances M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy M
Funding of needed escrows P
Tenant Estoppels/Subordinations P
L/C draw letter P
Recordation of documents M
Modification Agreement M
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
Update Tax Service Contractor P
Hello letter to new parties P
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 26
SPECIAL BORROWER REQUESTS HOLDBACKS
PROCESSING CHECKLIST SPECIAL RESERVES
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property M
Current Operating Statements for Property - 2 years P
Current Rent Roll for property P
Copies of all new or proposed leases P
CONSTRUCTION INFORMATION
Construction Plans and Specifications P
General Contract P
Cost Breakdown of Construction P
Building Permit/Zoning Approvals etc. P
Construction Schedule and Draw Schedule - anticipated occupancy date P
Borrower Certification re: No defaults P
Borrower Certification of lien free and completion of construction M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Execution of all documents/waivers M
UCC lien search M
Title insurance endorsement/new policy M
Funding of needed escrows P
Tenant Estoppels/Subordinations P
L/C draw letter P
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 27
SPECIAL BORROWER REQUESTS LEASE REVIEW
PROCESSING CHECKLIST
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
Current Rent Roll for property M
Copies of all new or proposed leases M
Information re proposed tenancy/leases P
Tenant Financials for Major Lease(s) M
Proforma Operating Statement on Property for next 3 years P
CONSTRUCTION INFORMATION
Cost Breakdown of Construction P
Construction Schedule and Draw Schedule - anticipated occupancy date P
Source of equity funds for out of pocket construction costs P
Borrower Certification of lien free and completion of construction M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
No downgrade letter from Rating Agency - CMBS DEAL SPECIFIC P
Approval of Controlling Party - CMBS DEAL SPECIFIC P
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection of Assumption/Consent Fee P
Execution of all documents/waivers M
New Insurance Coverage/Endorsement P
Funding of needed escrows P
Tenant Estoppels/Subordinations P
Written Waivers/ Modifications including contractor lien waivers M
Recordation of documents M
SNDA M
Memorandum of Lease P
New Assign of Leases and Rents P
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 28
SPECIAL BORROWER REQUESTS LEASE REVIEW
PROCESSING CHECKLIST
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts P
Evidence of Tenant Insurance M
Certificate of Occupancy M
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 29
SPECIAL BORROWER REQUESTS INSURANCE LOSS
PROCESSING CHECKLIST
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property M
CONSTRUCTION INFORMATION
Proposed repairs to property M
Construction Plans and Specifications P
General Contract P
Cost Breakdown of Construction P
Building Permit/Zoning Approvals etc. P
Construction Schedule and Draw Schedule - anticipated occupancy date P
Source of equity funds for out of pocket construction costs P
Guarantee of Completion/Guaranty of Completion Bond P
General Contractors estimate of cost to repair/rebuild M
Insurance Company estimate of Loss M
Copy of recorded mechanics lien M
Information regarding the contract/payment of mechanics lien M
Borrower Certification of lien free and completion of construction M
INSURANCE, TITLE AND SURVEY INFORMATION
All information relating to property/casualty insurance agency and carrier M
CONTRACTS, AGREEMENTS AND REPORTS
New Engineering Report P
New Environmental Assessement Report P
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
M
Execution of all documents/waivers M
Update of UCC lien search M
Title insurance endorsement/new policy P
New Insurance Coverage/Endorsement M
Written Waivers/ Modifications including contractor lien waivers P
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 30
SPECIAL BORROWER REQUESTS INSURANCE LOSS
PROCESSING CHECKLIST
SERVICING
Receipt and distribution of Documents M
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts M
Set up inspection schedule M
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 31
SPECIAL BORROWER REQUESTS LETTER OF CREDIT
PROCESSING CHECKLIST RELEASE OR DRAW DOWN
REQUEST RECEIVED
Request from Borrower/Notification of the event M
Conference call with Borrower and all parties P
Verify loan status - Whether the loan is current in all respects, payments, taxes,
insurance coverage and escrow requirements; No other non-monetary defaults
exist; Are any advances outstanding (P&I, Property Protection, etc.)
M
Review Basic Mortgage Loan Documents to verify specific
conditions/requirements regarding special requests and approval/consent
M
Review File for completeness - Original Environmental, Original Appraisal,
Original Title Policy, Original Engineers Report, Original Recorded documents -
D/T, UCC's, ALRP M
INITIAL RESPONSE TO BORROWER
Info request letter to Borrower (see information requirements below) M
Bill Application/Review Fee P
Collect Legal Fee Deposit P
INFORMATION REQUIRED
PROPERTY INFORMATION
Inspection of the Property P
Current Operating Statements for Property - 2 years M
Current Rent Roll for property M
Copies of all new or proposed leases P
Information re proposed tenancy/leases P
Proforma Operating Statement on Property for next 3 years M
APPROVAL
Letter of recommendation from servicer/mortgage banker/correspondent M
Underwriting/ Write up of Financial Impact of Special Request M
Approval of Servicer/Special Servicer/Master Servicer-CMBS DEAL SPECIFIC M
Approval of Conduit Lender M
Approval of Whole Loan Lender M
Approval/Conditional letter to Borrower M
CLOSING
Collection and Distribution of all proceeds, fees, escrows by Escrow Agent
P
L/C draw letter M
SERVICING
Updating of Loan Servicing System M
Updating Bank Accounts/Escrow Accounts P
Set up inspection schedule P
LEGEND
M = MANDATORY - ALWAYS REQUIRED
P = POSSIBLY REQUIRED FOR THIS SPECIAL REQUEST- SUBJECT TO THE
SPECIFIC TRANSACTION, DOCUMENTS AND HOLDER OF LOAN
1/17/201110:04 AM3635baf0-26b6-4928-a4cf-ff533a331378.xls 32
