Project Documentation

The documentation needed to complete a project review may differ depending on the project and review type. Underwriters are responsible for determining the documentation needed to ensure that the project meets all of Homium’s eligibility requirements. Project documentation may include, but is not limited to, the following:

• legal and recorded documents including the covenants, conditions and restrictions, declaration of condominium, or other similar documents that establish the legal structure of the project;

• project budgets, financial statements, and reserve studies;

• project construction plans;

• architects’ or engineers’ reports;

• completion reports;

• project marketing plans;

• environmental hazard reports;

• attorney opinions;

• appraisal reports;

• evidence of insurance policies and related documentation; and

• condominium project questionnaires.

Sources for project information include, but are not limited to, appraisers, HOAs, management companies, real estate agents, insurance professionals, and project developers. Underwriters are responsible for the accuracy of any information obtained from these sources.

Document Retention

Homium will retain all of the project documentation needed to demonstrate that the project meets Homium’s eligibility requirements, including any documentation the underwriter relied upon. This documentation will be retained, and as long as originators originate mortgages from the project, and until all mortgages closed and funded have been liquidated.