CS_S_206 Navigating CMF Loan Documents

Member Price: $119.00

Nonmember Price: $169.00

Product Code: DL2-001027-WC-W

This course is only for purchase through a corporate training agreement OR through the purchase of the Level II package of the Commercial Servicing Certificate Program

This is a commercial/multifamily series course, a component of the Level II Commercial Servicing Certificate Program.

In order to properly service commercial/multifamily real estate loans, it is necessary to understand certain requirements of the loan documents. There is no substitute for checking the loan documents whenever an issue arises; even if a loan's key terms have been set up on the servicing database. Navigating CMF Loan Documents is intended to assist servicing personnel in locating important servicing information and requirements among the various agreements typically used to document a commercial/multifamily real estate loan.

This series begins with an overview of the commercial/multifamily loan documents; from initial application, to underwriting and closing the loan, to loan payoff. This section concludes with an interview with an industry expert answering questions about the loan documents including: Why are they are so important to the loan servicer? What are some of the most challenging aspects about them? How has their structure and complexity changed? And more.

The series then provides an in-depth look at the documents that evidence the borrower's promise to pay, show how billing and payments are set up as well as how late payments are handled. It will also discuss prepayment provisions and terms and how to process loan payoffs. This section ends with a discussion on how to manage loans in default.

From there the series delves into the security instrument; describing the fundamental concepts and purpose of loan agreements in CMF mortgage transactions, the provisions that establish the collateral for the lender as well as the means to assess the financial well-being of the property, how the security instrument dictates the operation, management, and maintenance, as well as the sale and ownership transfer of the property.

The series concludes with an overview of other loan file and supporting documents that are relevant to the servicer including modification documents, leasing agreements, monetary agreements, and property documents.

Series Goals

Upon completion of this course, learners should be able to:

  • Describe the role of various loan documents throughout the commercial/multifamily (CMF) real estate loan cycle, particularly as these documents apply to CMF mortgage loan servicing.
  • Apply basic provisions of the promissory note to resolve or address various commercial/multifamily mortgage loan servicing scenarios.
  • Summarize stipulations of the security instrument that are necessary to accurately service commercial/multifamily mortgage loans.
  • List additional loan file and supporting documents used to resolve or address various commercial/multifamily mortgage loan servicing issues.

Series Outline

CMF Loan Document Fundamentals

  • CMF Mortgage Loan Documents
  • Borrower Application and Underwriting
  • Closing Process
  • Servicing the Loan
  • Interview with a Loan Document Expert

The CMF Promissory Note

  • Basics of the Promissory Note
  • Billing and Payment
  • Prepayment and Payoff
  • Default

Security Instruments in CMF Lending

  • Basics of the Security Instrument
  • Loan Agreement
  • Granting of Collateral
  • Establishing Financial Requirements and Procedures
  • Transfer and Sale of the Property
  • Physical Conditions and Operations of the Property
  • Protecting Against Casualty and Condemnation
  • Default and Remedies

CMF Loan File and Supporting Documents

  • Modification Documents
  • Leasing Agreements
  • Monetary Agreements
  • Property Documents

Copyright 2016.


This is a self-paced, self-study course.

Contact Info