Freddie Mac



TITLE EXCEPTION AND SURVEY ANALYSIS INSTRUCTIONSDELETE THESE INSTRUCTIONS FROM THE FINAL SUBMITTED VERSION OF THE DOCUMENTBe sure to send this Analysis to the appropriate Regional Attorney and Paralegal for approval no less than 2 business days prior to Origination. In the event additional information is forthcoming and deadline cannot be met, notify the Paralegal as soon as possible.E-Mail Subject Line. When sending this Analysis to Freddie Mac, include the following in the subject of the e-mail:Property NameAnticipated Closing DatePool Name, if applicableREMIC. For REMIC compliance, please identify any recorded document that is senior to the Mortgage that includes any of the following requirements:Borrower must rebuild when there is a partial condemnation.Borrower must use condemnation proceeds for something other than repayment of the Loan.Any party other than Borrower or Lender has the right to hold and disburse condemnation awards.Specifically list what the requirement(s) is/are and conditions related to it. Please identify such document as a REMIC MATTER in your description.Survey Encroachments and Violations. Pursuant to Guide Section 29.2(d), include in the “Non-Safe Harbor Title Exceptions and Survey Matters” portion of this Analysis all encroachments and violations shown on the survey that the Guide requires be identified, even if they are not listed as title exceptions, including those that would otherwise fall under one of the safe harbor categories in Section 29.2(e). Any violations/encroachments specified in Schedule B of the title policy – even if a safe harbor exception – must have coverage unless otherwise approved by Freddie Mac. Also include any deviations from the survey requirements in the Guide. Revisions to Approval. Freddie Mac approval of the Title Exception and Survey Analysis is limited to only those items listed in this Analysis. Any notes or comments emailed or otherwise communicated separately from this Analysis are not part of the review process and are not deemed approved. The preparer should complete Part 3 when Freddie Mac Legal has approved this Analysis.If there are additions or changes to the underlying title or survey materials, the preparer must submit an updated Analysis to Freddie Mac Legal for approval prior to origination.All TESAs must be approved by Freddie Mac Legal prior to submission to Purchase.? Each uploaded TESA must include a copy of the appropriate approval email from Freddie Mac Legal.The preparer should insert the final title policy exception numbers (if different from commitment/pro forma) as indicated in this Analysis form in Parts 9-12. This information does not require additional Freddie Mac approval.The preparer should confirm approved TESA against final title policy and revise the TESA as necessary prior to final delivery. Edits to Sections 1-3; updates or corrections to recording information or description of previously approved exception documents, unless additional risk has been added or a mitigant has been removed; and/or deletion of a previously approved exception do not require additional Freddie Mac approval.TITLE EXCEPTIONS AND SURVEY ANALYSIS (TESA)(Revised 10-1-2020)Loan InformationPreparer’s InformationFreddie Mac Loan No.:Seller/Servicer:Property Name:Law Firm:Property Address:Attorney:City, State, ZipParalegal:Loan Amount:Primary e-mail:ApprovalThis Analysis was submitted to and approved by the following Freddie Mac Counsel/Legal Analyst on the date shown (“Approval”).Counsel/Legal Analyst:Approval Date:?This is a Revised Analysis*, revisions approved on: *This section is reserved for revisions made in response to an exception raised in the Pre and Post Funding Exception Report sent by MF Purchase. All updates or revisions are indicated using bold/underline/strikethrough text as appropriate to show the changes.Key Loan Characteristics for Analysis (select all that apply)Contiguity Status (select one)?Legal Conforming?Single land parcel or single boundary legal description?Legal Non-Conforming - Reason: ?Multiple land parcels, contiguous (requires ALTA 19, T-25, or equivalent)?Legal Non-Conforming Rider to be attached to Note?Multiple land parcels, non-contiguous?BL&O Insurance applicableDescription of non-contiguous parcels:?Encroachments (limited to encroachments and/or violations that materially and adversely affect the Property’s operation, use or value, or the security intended to be provided by the Mortgage (ie: income-producing buildings, parking, access ways))(if property consists of both contiguous and non-contiguous land parcels, please include description from ALTA 19, T-25, or equivalent)Insert high-level description of property (do not include legal description):?Improvement(s) encroach into easement(s)?Improvement(s) violate setback line(s)?Improvement(s) encroach onto adjoining parcel(s)?Improvement(s) from adjoining parcel(s) encroach onto Property?Supplemental Mortgage?Other than senior loan documents, there are no new non-safe or conditional safe harbor exceptions in the title policy?Other than the senior loan documents, all new non-safe or conditional safe harbor exceptions in the title policy are described in this Analysis?Supplemental Policy includes new endorsements as noted in Sections 11/12 below)?LURA or other Regulatory Agreement?Ground Lease (requires ALTA 13.1-06 or equivalent)?Subordinate Financing?Crossed Loan (requires deal-specific endorsements)?REMIC Matter (see commitment/proforma exception #__)Access (select all appropriate options)?The Property is contiguous to, and has direct pedestrian and vehicular ingress and egress to and from, each street listed below. Each listed street is an open, publicly dedicated and maintained right of way.Direct access endorsement (ALTA 17, T-23 or equivalent) is either:?included?not availableDirect Access:Insert full legal name of street(s) as it appears in final survey:?The Property has indirect pedestrian and vehicular ingress and egress to and from each street listed below via an insured access easement described in Schedule A of the title policy. Each listed street is an open, publicly dedicated and maintained right of way.?Indirect primary access complies with Guide Section 8.8?Indirect primary access complies with Guide Section 8.8, except as described in PLIM dated __________ and approved by Freddie Mac?“Primary Access by Easement or Private Road” Rider is or will be attached to the Note?Indirect access endorsement (ALTA 17.1 or equivalent) is either: ?included?not available?Indirect Access is secondary; the Property has primary direct access as described aboveIndirect Access:Insert full legal name of street(s) as it appears in final survey:Survey (select one and complete as applicable)?Current Survey?This is a Supplemental Mortgage (a copy of the senior mortgage survey and a Survey Certificate will be delivered)?The Loan Amount for this Mortgage is $20,000,000 or less (a copy of an existing survey and a Survey Certificate will be delivered)(Only applicable for Loans that go under Seller application on or after October 18, 2017)?Survey Waiver?requested?approved?Waiver of ALTA Survey (New York City)?Western States Survey Waiver (complete Section 12C below)?Current Survey Waiver (Non-Western States and not in New York City) (a copy of an existing survey and a Survey Certificate will be delivered)Condominium/Cooperative Conversion Restriction (select one and complete as applicable)?Restriction document complies with Guide Section 8.18(f)?Restriction document complies with Guide Section 8.18(f), except as set forth in Section __ below or as described in PLIM dated _______ and approved by Freddie Mac?Restriction document terminates at foreclosureNon-Safe Harbor Title Exceptions and Survey Matters (if not applicable, state “None”)Exception # on Title Policy Exception # on Title Commitment or ProformaTitle of Document/Recording Information/Description of Exception or Survey Matter(to include Schedule B-II items)Identify:Borrower’s current and/or future obligations that would not otherwise fall under a safe harbor exceptionRisks to lenderMitigantsObligations:Risks:Mitigants:Obligations:Risks:Mitigants:Obligations:Risks:Mitigants:Conditional Safe Harbor Title Exceptions and Survey Matters – Safe harbor title exceptions described under Guide Section 29.2(e) that require specific mitigants or additional coverage. If the mitigant is an endorsement required under the terms of Guide Section 29.1(g), the exception should not be included but the exception must be listed were applicable in Sections 11 and 12). (if not applicable, state “None”)Exception # on Title Policy Exception # on Title Commitment or ProformaTitle of Document/Recording Information/Description of Exception or Survey Matter(to include Schedule B-II items)Mitigant(s) required to qualify the exception as a safe harbor Provide:Applicable section referenceRequired endorsement(s) and/or text of affirmative title coverageTitle Endorsements – Standard - Every endorsement must be addressed below. An endorsement should be designated as Not Available only if that endorsement is applicable to the property but cannot be delivered because it is not available in that jurisdictionYESN/AN/AVEquivalent(list by name)Covered Exceptions #(ALL exceptions must be listed) FinalProformaDescribe modified language or differences in coverage from ALTA, CLTA, TX, or equivalent form.SUPP – identify new endorsementStandard Required EndorsementChoose OneALTA 3.1 or CLTA 123.2, Zoning – Completed Structure (Loans or crossed pools ≥ $25M)ALTA 8.1 or T-36, EnvironmentalALTA 9, Restrictions, Encroachments, Minerals (Adopted 04-02-12) orALTA 9.3, Comprehensive (Adopted 06-17-06) orALTA 9.3, Covenants, Conditions and Restrictions (Adopted 04-02-12) orT-19, ComprehensiveALTA 17 or T-23, AccessALTA 17.1, Indirect Access and EntryALTA 18, Single Tax ParcelALTA 18.1, Multiple Tax ParcelALTA 19 or T-25, Contiguity (Multiple Parcels)ALTA 25, Same as SurveyALTA 28, Easement – damage or enforced removal, or CLTA 103.1, Easement, damage – use or maintenance or CLTA 103.3-06, Easement, Existing EncroachmentALTA 28.1, Encroachments – boundaries and easements or CLTA 103.6-06, Encroachments, None ExistALTA Waiver of Arbitration (Loans under $2M) TX only - Schedule B includes waiver of arbitrationTX only - T-30, Tax Deletion, or policy does not include language regarding subsequent taxes for prior yearsTitle Endorsements – Transactions SpecificYESN/AN/AVEquivalent(list by name)Covered Exceptions #(ALL exceptions must be listed) FinalProformaDescribe modified language or differences in coverage from ALTA, CLTA, TX, or equivalent form.SUPP – identify new endorsementA. Transaction-Specific EndorsementsChoose OneALTA 4 or T-28, CondominiumALTA 5, Planned Unit DevelopmentALTA 9.6, Private RightsALTA 13.1 or T-5, LeaseholdALTA 35.1 or T-19.2, MineralsALTA 41.1, Water – Improvements, or CLTA 103.5, Exercise of Surface Rights for Extraction of WaterALTA 44, Insured Mortgage RecordingMortgage Recording TaxALTA 39 or Electronic Signatures EndorsementManufactured Housing?This section is not applicableALTA 7.1, Manufactured Housing Unit (required for Borrower-Owned Homes)ALTA 28.2, Encroachments – Boundaries and Easements – Described Improvements (required if site pads encroach on easement)NOTE: Section 2 must be completedALTA 34, Identified Risk (required if site pads violate setback lines)NOTE: Section 1 must be completedCrossed Loans?This section is not applicableALTA 12 or T-16, Tie-in or AggregationALTA 20 or T-14, First LossMultiple Foreclosure (except FL, KS and TX)Title Endorsements – Transactions SpecificYESN/AN/AVEquivalent(list by name)Covered Exceptions #(ALL exceptions must be listed) FinalProformaDescribe modified language or differences in coverage from ALTA, CLTA, TX, or equivalent form.SUPP – identify new endorsementB. Transaction-Specific EndorsementsChoose OneWestern States Survey WaiverThis section is not applicableALTA 3.1 or CLTA 123.2ALTA 17 or CLTA 103.7, AccessALTA 17.1 or CLTA 103.4, Indirect AccessALTA 19 or CLTA 116.4, ContiguityChoose OneCLTA 116, Designation of improvements, addressALTA 22 or CLTA 116.01, Location ALTA 22.1 or CLTA 116.02, Location and mapChoose OneALTA 26 or CLTA 116.8, Subdivision CLTA 116.7, Lawfully created parcels endorsement where the Property is described with a metes and bounds legal descriptionChoose OneALTA 28 or CLTA 103.1, Easement - damage or enforced removalALTA 28.1, Encroachments – boundaries and easementsCLTA 103.2, Easement, damage-use or maintenanceCLTA 103.3, Easement, existing encroachmentTitle Endorsements – Transactions SpecificYESN/AN/AVEquivalent(list by name)Covered Exceptions #(ALL exceptions must be listed) FinalProformaDescribe modified language or differences in coverage from ALTA, CLTA, TX, or equivalent form.SUPP – identify new endorsementC. Transaction-Specific EndorsementsChoose OneOtherTitle Endorsements Certification?Each of the endorsements marked “Yes” in Sections 11 and 12 match the published ALTA, CLTA, or Texas Department of Insurance version of that form except where differences are described in the charts below (include a description of any endorsement marked “modified”).Title Exceptions Certification?This Analysis is submitted to Freddie Mac on behalf of the Seller/Servicer in conformity with the requirements of the Freddie Mac Multifamily Seller/Servicer Guide (“Guide”). All capitalized terms not defined in this analysis have the meanings given to them in the Guide. The Law Firm and Attorney identified in Part 2 has/have determined that each title exception or survey matter identified in this Analysis would be acceptable to a prudent institutional investor based on the obligations to Borrower, risks to Lender, and mitigants described in this Analysis. All title exceptions not listed in this Analysis are safe harbor title exceptions under Section 29.2(e) of the Guide that do not require any further mitigants (including additional title endorsements) in order to qualify as a safe harbor title exception. ................
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