Multifamily Loan/Grant Servicing Requests
Request for Action (RFA)
Our Request for Action (RFA) process is used for many different servicing requests, including ownership/management company changes, subordinations, payoffs, and others.
- An RFA form must be completed for all loan/grant servicing (including amortizing debt, deferred debt, and tax credit only financing).
Upon receipt of your complete RFA form, we will send you:
- A letter acknowledging your request, to be signed by the Owner
- A list of required due diligence items
- An invoice for the applicable nonrefundable RFA processing fee (effective February 1, 2016)
- Our processor and underwriting staff will review your materials and present them to the appropriate committees for approval. The average timeline for a decision is 30-90 business days from our receipt of all required documentation. This timeline may be extended depending on the nature of the request or the completeness of the documentation.
- We will notify you in writing of the final decision and provide you with next steps. Your file is then transferred to our legal team, where a timeline for closing will be determined and additional documentation is often required.
Amortizing Loans - Estimated or Actual Mortgage Payoffs
- Estimated Payoff: Owner must submit a completed Request For Action form
- Actual Payoff: Owner must submit a completed Request For Action form and the payoff worksheet
Redefined Equity Programs I, II & III, Equity Programs
Eligibility guidelines for an increased partnership distribution.Redefined Equity Rules
Equity Takeout Loans
Helpful links and documents
Owner/Manager Contact Information Change Form - For Ownership Changes or a change in Management Company, please submit a Request For Action.
Contact or send submittals
651.296.3789, toll free: 1.800.657.3769
400 Sibley St, Suite 300
Saint Paul, MN 55101-1998